Public Sector Pension

blooper

I have been in a public sector job working as a C.O on contract for the last two and a half years and it doesn't look like contract will be renewed. I have been paying into the public sector pension and paying pension levy.

Just wondering if I will be entitled to any pension or will I just get contributions back. I realise I won't get any of the levy back.

Thanks for your help.

gerrycollins

you wont get you pension back or what you can get back will only be your own contributions.

however you can transfer it to a new pension such as a PRSA and it will include your own contributions and contributions from your employer if any.this was the case in my private sector job

when you transfer to a PRSA you will never see your money till you retire as per agreements with the bank but you do not have to contribute all the time(if your out of contract) but if you dont you will not get your full expected return.

tenchi-fan

You will be entitled to a small pension

Milk & Honey

tenchi-fan wrote: »

You will be entitled to a small pension

How do you make that out.Civil Servants must serve for a minimum of 8 years to become entitled to a pension.

coffee_cake

http://www.cspensions.gov.ie/faq2.pdf

What are my pension entitlements and on what basis are they
calculated? On retirement you will be entitled to a pension and lump
sum provided you have a minimum of 2 years' reckonable service.

What is reckonable service? Reckonable service is paid service and
provided an officer has 2 years qualifying service, the following service
is reckonable for pension purposes: ...etc

What benefits apply on departure from the civil service other than
on age or ill-health retirement? On voluntary resignation from the
civil service before reaching 60 years of age or 65 in the case of “new
entrants” who are not Prison Officers a civil servant has the following
options:
a. Transfer: transfer accrued pension rights to an approved
organisation (question 32), or;
b. Preserved Benefits: If the officer has at least 2 years’
reckonable service, he or she may on application at age 60 be
paid preserved benefits (question 30).
c. Actuarially Reduced Benefits: see question 13(b).
d. Refund of Contributions: If the officer has less than 2 years
service, contributions (personal and Spouses and Children’s)
will be refunded less an appropriate deduction for income tax.
The service may be re-instated if the officer subsequently rejoins
the civil service or a body in the Transfer Network by repaying
[PHP][/PHP]the amount refunded with compound interest added.

Looks like you're over 2 years so you're entitled to a small one

tenchi-fan

Milk & Honey wrote: »

How do you make that out.Civil Servants must serve for a minimum of 8 years to become entitled to a pension.

source?

Mary Hairy

tenchi-fan wrote: »

You will be entitled to a small pension

It does not look like there was any established service of which there must be 2 years reckonable service to qualify for a pension.