Signing for credits ? Why

deco87

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143
Question.
I work in public service ( justice) and I could have retired at 50 with 30 years service completed. Now 55.
I was thinking of retiring shortly well semi retire. (I'm divorced 10 months/ single man allowances etc). To work 2 days a week paying a stamp. It's more just to be doing something really as I will have 33 k pension which will do me fine.
I had 40 or so A stamps before joining .. I wont make 520A by 67/68 which would give me a state pension ( taxable) of around 80 or 90 euro a week when it's worked out over the full years of working ...possibly I may have an entitlement to a modified stamp payment of 20 or 30 euro based on these public service stamps I have.
What advantage if any is there of me signing on for credits on days I'm not working ...others who have retired are telling me this is important.....I wonder why ? I have private health insurance ...will always have pension....I cant see why signing for credits will matter ..only ( issue for me is) that if an odd extra day came up in the job I want..I wouldn't be able to do it....if I signing for credits .....that may happen odd time with little notice due to someone calling in sick last minute etc ...

Appreciate any advice ...oh just one last thing ! If I had the 520 A Stamps...i understand
Credits would perhaps be of some benefits..then....as I dont and wont ....I'm not aware of the benefit...

Any advice appreciated.
 

Conan

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944
Yes you should sign on for credits.
- if you get an A stamp job (after retiring) then you will qualify for a Mixed Rate (Pro Rata) Pension, subject to having a minimum of 5 years A contributions. And if you get an A job you can also qualify for Change of Status credits of at least 52 weeks. So getting an A job, even part-time, could allow you to add to your previous A stamps to qualify for some State Pension.
- if you remarried, and your spouse wanted to claim a Widows(ers) Pension on your death in retirement, one of the conditions is that you have paid or credited contributions in the 3 or 5 years prior to age 65.
So it’s not a great hardship, but I would recommend that you sign on for credits irrespective.
 

deco87

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143
Thanks a mill. I will not make the 520 A

The only reason really I was thinking no point in signing is that would stop me doing a last minute day work ...occasionally..as if I am signing on for credits I cant work.
I thought I would get a pro rata mixed stamp pension anyway due to my 35 years public service Stamps? In addition to the 2 days a week A Stamps I would be getting ?
 

Conan

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944
If you retire from a B/D role you cannot claim jobseekers, but you can still sign on for credits. And even if you work part time, you just need to advise your local Intreo office of the days you do work (even If you notify them after the event). No problem.
 

Early Riser

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587
If you retire from a B/D role you cannot claim jobseekers, but you can still sign on for credits
If you sign on directly after the B/D role the credits will be B/D credits - unless there is an interval for a Class A role, which can be brief, ASAIK.
 

Conan

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944
Correct Early Riser. Even if you get an A job for one week it's sufficient to convert you to an A.
If not intending to work as an A after retiring, it's only worth signing on if your spouse might claim a State Widows Pension on your death.
 

deco87

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143
Lads I'm getting a bit lost ..B D are public service Stamps right ?
If a new employer takes me on for 2 days ...pay a " stamp" I'm presuming that employer pays an A stamp?
OR....can a new employer ( after I retire from public service) choose some other category of stamp with different entitlements? Can anyone clarify this for me please. Thank you D
 

Conan

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944
If a new “private sector “ employer takes you on then you would be an A. Employers cannot “choose” a different stamp category. The categories of stamp are defined, with A being private sector or joining the public service post April 1995. B and D are public sector and civil service.
 

Bronte

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13,456
Why is everybody referring to Spouse, the OP said he is divorced. And people would be very well advised late in life not to divorce but to separate legally so as to preserve for each rights as regards pensions etc.
 

deco87

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143
just trying to work out what I would receive net in my pension....approx.....ill get 32.500. I'm divorced with Gross tax credits (2019) 4.950.
1650 will not be there for that long as its a "Single Persons Child Carer " credit … Dividing 32.500 into 12 months , its a monthly payment ...
is there a calculation I could use to get a rough net idea of what it is worth into my hand I wonder? No other reliefs.
Gross would be approx. €2708.00 per month. Thank You
 

Bronte

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13,456
I know a lot of people that are doing exactly what you say Bronte and for that exact reason...
It's why I warned my husband not to remarry should I die :) But I was serious as we both have very important financial rights from each other. I said by all means meet someone else, just don't be stupid !

Edit: I see you are the OP. You can always remarry your wife ! Registry office is cheap too.
 
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