transition pension

T

Tonyha

Guest
Can anyone please simplify how to qualify for Transition Pension. I have Ord stamps from 1964 til 1976...
I have B1 stamps from 1977 to 1982/83
D1 stamps from 84/85 until 96/97
D stamps 97/98 til 2007
in 2008 I have 1k 28 m 1K and 12D
from 2009 to 2010 i have M stamps............
can anyone calculate what type of Transition Pension I will have in 2012 when i reach 65
thanking all in anticipation
Tonyha
 
Your pension will be a mixed rate one. Only Ord. B. & D contributions are reckonable for Transition Pension, therefore Class K and M will not be included.

My calculation (roughly as I do not have full information) would give you a pension of approx E62.50.p.w.

I would also suggest that you re-apply for your State Contributory Pension (Old Age) next year at age 66 as the calculation for that is different and would be based or you ORD contributions only and therefore payable at a higher rate.

Who knows what changes the budget will bring
 
Thank you so much for your information.....God help us. After working a lifetime and paying tax and insurance for a lifetime I could end up with a pension of E62.50 p.w. how sad is that ? once again I am so grateful to you for your help. T
 
Do you not also have, or qualify for, a civil or public service pension, since you paid class B and D contributions? (these PRSI classes are paid by civil / public servants).
 
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