Meeting with financial advisor today re pension planning.......
- Thread starter Jumbled
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In practise, this is more complicated. Post 95 PS workers who wish to retire at 60 under the teachers scheme would be required to bridge the gap between this age and state pension age. They can do this by claiming JSB and supplementary pension but I think can be a difficult process. Only those in the Pre 2004 scheme still have 60 as a retirement age. The main point I was trying to address was that the state pension is not paid in addition to this pension, but is included in it.
Benbulben
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Thanks Protocol, I hope nobody is trying to peddle that kind of nonsense any more. Talk about money for old rope.
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I would suggest that the starting point is the HR department in your current employment/sector. I take it that this is the Dept of Education in Athlone for you? From the website this seems to be the form they require https://www.gov.ie/pdf/?file=https:...aa4-959a-4478-8a34-9a0bde20260b.pdf#page=null
I suggest you send a covering letter. You were not in the pension scheme during your nurse training years - point this out and that you would not have been eligible to join then but that student nurse training under the traditional in-service model is reckonable and that you want to buy this service (or, at least, get an estimate).
I don't know if you were ever in a pension scheme during your nursing years but one way or another tell them in your letter and set out details in the form of all service that you want to be reckoned.
Also outline any service in the teaching area before joining the pension scheme and your request to have this reckonable service made pensionable now (a separate form or forms will be required). The teaching service should be more straightforward in that you only need verification rather than both verification and transfer.
Getting your service verified by the relevant organizations can be challenging (I guess this varies by organization - and luck). But be prepared to do plenty of follow up - both with your current HR and with your previous employers. It might be worth calling the Mater HR department now to enquire and explaining your situation. At least you might get a feel for the lie of the land. Ditto for any previous PS employer from whom you need verification.
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Very good advice there from Ruffian.
Would the Nurses’ Union be able to give you any guidance? They must be getting similar queries from time to time.
Would the Nurses’ Union be able to give you any guidance? They must be getting similar queries from time to time.
Remember any additional service deemed reckonable is really valuable to but it will require perseverance, I expect.
And they do not have much interest or knowledge about Purchase of Notional Service, which is not surprising given that their objective is sale of AVCs.
Notional Service is a good option for some people.
You mean the crowd who are in cahoots with Cornmarket for AVCs?
They might if there is any issue specifically with the nurse training element. But I gather that the OP switched to the education sector a long time ago and that means a transfer as well as verification. I think that their current HR is the place to start. Tracing a sequence back through all the service and getting it verified may be tricky. Verification of the initial teaching roles will probably have to come first.
It's of no help to the OP but it really important for all who are starting to out in the PS in any sort of contract or temporary roles to keep account of all service and go about getting it verified (and, as appropriate, transferred) as soon as possible after they get into the pension scheme. Leaving it until retirement starts to loom onto the horizon is not a good idea.