Hi, I’ve looked on this forum but can’t find the answer to my question. I am concerned about having enough PRSI contributions to get the full (or almost full) contributory state pension at 68. I’m 57 now and took cost neutral early retirement in January 2019 having worked since 1980. My current income is comprised of an occupational pension (not liable for PRSI) and rental income (liable for PRSI but doesn’t count towards state pension). I do not intend to engage in any other paid work (which would serve to increase my PRSI contributions) before official retirement at 68.
My PRSI contribution history runs from 1980 to 2019, and is as follows, starting with most recent. All my PRSI contributions were paid at class A:
2019 - 9 months on Jobseekers Benefit (40 credited contributions)
1991-2018 inclusive (29 years) employment in public service @ 52 class A contributions per year (1,508 paid contributions)
1980-1989 (172 contributions, comprised of a mixture of paid and credited)
Grand total class A PRSI contributions =1,720
However, I have a contribution gap between 1885 and 1987, when I was a full-time student and paid no contributions.
I realise the pension rules will probably change, but based on the current situation my question is:
Will I get a full (or almost full) pension at 68 based on my existing contributions, or will I be penalised for the gap back in the 1980s?
If it operates against me, I may consider voluntary contributions but they are very expensive and my means are quite limited.
Many thanks for any response to this.
My PRSI contribution history runs from 1980 to 2019, and is as follows, starting with most recent. All my PRSI contributions were paid at class A:
2019 - 9 months on Jobseekers Benefit (40 credited contributions)
1991-2018 inclusive (29 years) employment in public service @ 52 class A contributions per year (1,508 paid contributions)
1980-1989 (172 contributions, comprised of a mixture of paid and credited)
Grand total class A PRSI contributions =1,720
However, I have a contribution gap between 1885 and 1987, when I was a full-time student and paid no contributions.
I realise the pension rules will probably change, but based on the current situation my question is:
Will I get a full (or almost full) pension at 68 based on my existing contributions, or will I be penalised for the gap back in the 1980s?
If it operates against me, I may consider voluntary contributions but they are very expensive and my means are quite limited.
Many thanks for any response to this.