Yearly Average Contribution

[Mikinam]

Hi, I appreciate it is being scaled down over the next 10 years but am I right in believing that if you have paid an average of 47 weeks PRSI contributions for just the last 10 yrs you are currently entitled to a full Irish pension? Mike

 

[ClubMan]

48?

State Pension (Contributory)

The State Pension (Contributory), previously called the Old Age (Contributory) Pension, is payable to people aged 66 and over who have worked and paid enough social insurance contributions.

www.citizensinformation.ie

Normal average rule​

The normal average rule states that you must have a yearly average of at least 10 qualifying contributions paid or credited, from the year you first entered insurance, to the end of the tax year before you reach pension age.

You need an average of 10 contributions a year to get a minimum pension, and you need an average of 48 a year to get the maximum pension.

Your yearly average will be rounded to the nearest number. For example, 9.4 is rounded down to 9 and 47.5 is rounded up to 48.

 

[S class]

If your first Prsi payment in Ireland was at the start of the 10 year period and you have at least 520 Prsi payments, then you would get the rate for average 47.

 

[mmclo]

Hi, I appreciate it is being scaled down over the next 10 years but am I right in believing that if you have paid an average of 47 weeks PRSI contributions for just the last 10 yrs you are currently entitled to a full Irish pension? Mike

Not a full pension, actually a good bit less, if its after the transition period it's more or less proportionate to your contributions afaik

From https://www.gov.ie/en/publication/b6193-how-to-calculate-your-state-pension-contributory-rate/

As the 'Total for TCA calculation' is less than 2080, the person qualifies for a reduced rate of pension. The reduced rate pension is calculated as follows:

Total for TCA Calculation 1,817	÷	2080	=	0.8735	X	100	=	% of maximum rate, 87.35%
% of maximum rate 87.35%	X	maximum rate of SPC €277.30	=	Rate payable €242.30

So for 470 contributions is 22.6% of the full amount = é62.66