I may have the opportunity to move from my private sector permanent job to a civil service job. In my private sector job I earn €75k per year with no contributory pension scheme. I opened a PRSA six months ago and am making my own contributions of €650 per month. The public sector job grade is €66,495-€82,300. I would have to start at the lower end so would be taking a pay cut. I am 47 and roughly planning to retire at 68..
My questions would be
My questions would be
- For the public sector job, how much are the ‘employer’ contributions worth as a % of salary? Just trying to figure out if that would compensate to some extent to the salary cut if I took the public sector job
- In general, would I be better off sticking with my private sector job with it’s higher salary and building up my PRSA, albeit with no employer contributions? I would have the flexibility to make AVCs to make up any shortfall, not sure if that option exists for public sector scheme.