Should I buy years or contribute to an AVC/PRSA?

[Ruffian]

Any steer on this would be much appreciated.

I don't know the answer.

It was always my understanding that the purchase of notional years did not count towards the Supplementary. Class As pay towards two different pensions, which are coordinated - the Occupational Pension and the State Pension (via PRSI). If someone retires after normal retirement age with 30 years service they get 30 years worth of Occupational Pension. If they do not also qualify for 30 years worth of the State Pension ("through no fault of their own") and they are not working elsewhere they can apply for a Supplementary Pension to equal value, ie, their Supplementary will be 30/40 of the State Pension. If this same person had bought 10 notional years they would add to their Occupational Pension proportionally. But they have not paid 10 additional years of PRSI (or equivalent) and therefore the Supplementary pension remains at 30/40 of the State Pension.

As I say, that was always my understanding (and one reason I preferred AVCs for myself). However, since someone recently pointed to the Dept of Ed Modeller indicating something different I just don't know any more. And, on the other hand, some other poster has referred to getting a similar steer to your self from their employment office.

 

[Nordkapp]

If my supplementary pension was not accruing by the NSP scheme then my pension will be reduced -

That’s my understanding, I saw it called out in a DoE circular that you should google. In my case 10 years NSP accrue by age 65, so if I go between age 60 and 65 I won’t accrue supp pension on my NSP, which is quite annoying.
I will though have 2080 prsi stamps at age 60.3 yrs, but that doesn’t mean anything until I draw the contributory pension.

 

[DingDing]

in my case, I retired from a Technological University at aged 60, (Minimum retirement age 60) last October. In my case the supplementary pension was only calculated based on my earned service, my purchased service, about 5 years was excluded from the calculation. So my experience would be the same as outlined by @Nordkapp and @Ruffian in the previous two posts.