People over age 62 are not required to actively engage.
People over age 62 are not required to actively engage.Normally to "sign on" for credits only, you still need to be available for and genuinely seeking employment. However if you are aged 62 or over you should be required to take part in the "activation process" (ie be actively seeking employment).
I, too, am curious. I asked for my PRSI record a while back and I got no credits for the 18 months of signing on prior to going to college. I was on jobseekers assistance at the time rather than dole stamps as I returned from abroad (circa 1992). Should they be deemed as contributed years ?Normally to "sign on" for credits only, you still need to be available for and genuinely seeking employment.
How does that work or where would I get further information about this.Try to use the taxable portion of your AVCs to set up an ARF before the year you reach age 63. If you can do this you will get "paid S class" Prsi contributions. If you get 52 S contributions in your 63rd year, you can qualify for the Benefit payment for 65 year olds. It is important to set up your ARF to monthly drawdowns in order to get the 52 S class contributions per year.
The 65 year olds Benefit would give you a payment of 208 euro per week for a full year.
You can setup an ARF through a broker. Check for information on Zurich or Irish Life websites. Google "Benefit payment for 65s" for information on how to qualify. There are threads on askaboutmoney on these topics.
Approved Retirement Fund (ARF)
With an ARF you are re-investing your retirement fund. You can choose to take a regular income from this fund. To start an ARF you must have a guaranteed pension income for life of €12,700 a year (from other sources than your ARF investment) or used €63,500 from your retirement fund to buy an annuity.
I don't have a guaranteed pension of E12700 per annum?
NOT true. You don't have to take part in any activation programme like courses how to look for work, any work scheme, Job Bridge and what have you, etc. They leave you alone if you do not want that stuff. But you are still required to be available for work and are supposed to genuinely and consistently look for work.People over age 62 are not required to actively engage.
Usually all benefits attached to the same employment must be taken at the same time.Try to use the taxable portion of your AVCs to set up an ARF before the year you reach age 63. If you can do this you will get "paid S class" Prsi contributions. If you get 52 S contributions in your 63rd year, you can qualify for the Benefit payment for 65 year olds. It is important to set up your ARF to monthly drawdowns in order to get the 52 S class contributions per year.
The 65 year olds Benefit would give you a payment of 208 euro per week for a full year.
Are you referring to the point that simply having monthly ARF payments before age 65 qualifies you for the Over65 payment?Some of the posts on this thread relating to prsi on ARFs and qualifying for BP65 are incorrect. They were written when the information on these was vague.
Some of the posts on this thread relating to prsi on ARFs and qualifying for BP65 are incorrect. They were written when the information on these was vague.
Yes.Are you referring to the point that simply having monthly ARF payments before age 65 qualifies you for the Over65 payment?
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