Contribury Pension Average Contributions Question

R

RugbyBoy

Registered User
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146
Hi All,

Trying to figure out the average per year rule works for me.

I did some summer work while in college so have PRSI contributions for then. I emigrated once I graduated and was away 12 years (non EU). I have been back 10 years and paid PRSI since returning.

How is my average contribution worked out? Reading the blurb it will calculated from when I first entered employment - part time summer work - so will impact me negatively

TIA
RB
 
Under the CURRENT rules, your average will be calculated based on a divisor starting from you first started paying PRSI. So yes, during your college years.
However you are obviously a long way off retirement (I gather) so the rules will probably change by the time you are due a State Pension. Indeed there is a proposal (still unclear if it will be implemented) to change the rules in 2020. That proposal would simply provide a State Pension of 1/30th for each year of PRSI contribution, so a full pension with 30 years on contribution.
The Gov is due to publish a Pensions strategy document early in the New Year. So that may bring more clarity.
 
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