Gave up work

[Donaoib]

Hello I gave up work this year to mind my two children. Does anyone know if I should start paying my own stamp towards my old age pension. I'm 35. I know it's along way away but don't want to get caught out nearer the time.

 

[RedOnion]

You should qualify for Homemaker scheme until children are 12. Read the full criteria:

Homemaker's Scheme

If you care full-time for children, or for an ill or disabled person, the Homemaker’s Scheme makes it easier for you to qualify for a State Pension (Contributory).

www.citizensinformation.ie

 

[Donaoib]

Thank you

 

[Bobalin]

I'm in the same situation but confused by the proposed Total Contributions Approach. If at the moment the Homemakers scheme disregards time caring in the home when calculating the average contributions - how will homemakers be protected if it's the absolute number of contributions that will be counted (TCA approach)?

 

[huskerdu]

Its explained here

State Pension (Contributory)

The State Pension (Contributory), previously called the Old Age (Contributory) Pension, is payable to people aged 66 and over who have worked and paid enough social insurance contributions.

www.citizensinformation.ie

Government announces significant improvements to pension calculations for post 2012 pensioners with contribution gaps for homemaking and caring who were assessed under the pension rate band changes in 2012

www.welfare.ie