State pension entitlement for Self Employed Director

M

mloc

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I am a director of a Ltd company with a 50% shareholding. I think this makes me 'self employed'.
When I reach state retirement age, am I automatically entitled to a state pension and if so what type? Will it be means tested?
 
Your entitlement to a State Pension is dependant on the class of PRSI you pay. If you pay Class A (employee) or Class S (self employed or company director) then you will be entitled to a State Pension so long as you have a sufficient record.
 
The class on my payslip is S1. I have been paying this class for the past 3 years. Prior to that I was paying employee class for a large number of years, circa 20. I hope to pay S1 until retirement.
IS the pension entitlement different for Class S to Class A? Is it means tested? (based on current rules)
 
The Contributory State Pension is not means tested. It is currently an entitlement based on your PRSI record. Class A and Class S are effectively the same as far as the State Pension is concerned.
It is the Non-Contributory Pension that is means tested.
The amount of your State Pension will depend on your PRSI record. Post 2020 you will require a minimum of 30 years contribution to qualify for the full State Pension, proportionately reduced where less than 30 years.
 
I understand you need 30 years paid up PRSI record so I have requested my record from Revenue to see where I am at.
 
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