Thanks. And indeed, was hoping to go earlierDon't think you can buy irish contributions back like you can with UK ones. However, you can work until you are 70 but who wants to do that......
If you don't want to continue working you are allowed to make voluntary contributions up to age 70. This would cost 500 euro per year and give you an extra 52 contributions each year. This would boost your pension. You would need to calculate if the loss of pension for the deferred years was worthwhile in order to get a larger pension later.
Reading the guidelines for voluntary contributions, the increase to 650 euro only seems to apply to voluntary contributions based on having paid class S Prsi beforehand.REMINDER: The minimum charge for VCs is increasing to €650 a year with effect from 1 October 2024!
Are you making voluntary NICs for your UK pension?I lived in UK for 11 years
Thanks for that. Will decide closer the timeYou can defer your pension beyond age 66 up to age 70.
If you don't want to continue working you are allowed to make voluntary contributions up to age 70. This would cost 500 euro per year ang give you an extra 52 contributions each year. This would boost your pension. You would need to calculate if the loss of pension for the deferred years was worthwhile in order to get a larger pension later.
For each deferred year the basic pension rate is also increased.
If you are in good health at age 66 this might make sense for you.
REMINDER: The minimum charge for VCs is increasing to €650 a year with effect from 1 October 2024!
YesAre you making voluntary NICs for your UK pension?
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