The Gap between retiring and state pension

[plantrepair]

Hi All, Can someone clarify what happens in the period between retirement and state pension entitlement. I would like to go at 64-65 and am on track currently. However if I retire for example at 64 and state only kicks in at 68 will I lose out somehow due to the 4 years I've not worked or paid PRSI. By the time I hit 64 I will have over 40 years of contributions and may even retire earlier depending on circumstances, thanks in advance

 

[noproblem]

By all means retire when you want before the qualifying age but only if you can afford to do so. Why should the ordinary taxpayer, the goverment or anyone else pay you to do so?

 

[Gordon Gekko]

By all means retire when you want before the qualifying age but only if you can afford to do so. Why should the ordinary taxpayer, the goverment or anyone else pay you to do so?

I don’t think that the OP is looking for anyone to pay him to do so.

The query seems to be whether the four year period dilutes his/her State Pension entitlement.

I don’t know.

 

[plantrepair]

I don’t think that the OP is looking for anyone to pay him to do so.

The query seems to be whether the four year period dilutes his/her State Pension entitlement.

I don’t know.

Thanks for understanding the question Gordon, that's exactly my query.

 

[plantrepair]

By all means retire when you want before the qualifying age but only if you can afford to do so. Why should the ordinary taxpayer, the goverment or anyone else pay you to do so?

Not sure what your on about here.

 

[RedOnion]

By 2020, the aim is that it will be based on total contributions approach (TCA), so you should not be disadvantaged. However the legislation required to do so hasn't been brought forward yet. If you have a look on Welfare.ie you'll find lots of info regarding TCA.

You also have the option of making voluntary contributions if you're not working (or claiming social welfare that gives you credits)
https://www.citizensinformation.ie/...si/voluntarysocialinsurancecontributions.html

 

[RETIRED2017]

how many years to retirement,I know at present once you hit 65 they seam to be no problem using up your unemployment benefit between 65 and 66,

 

[NoRegretsCoyote]

Does your employer have a compulsory pension age?

There are many in the private sector for whom it is 65.