Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Work after 65?

Options
  • 07-12-2010 2:54pm
    #1
    thebourke
    Registered Users Posts: 1,317 ✭✭✭


    if you work after you reach retirement age....will your state and private pension be cut or how does it work


Comments

  • Options
    #2
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    Not sure what the situation is with the state pension but your private pension should see a large increase if you take it late. Annuities get a lot cheaper as you get older.

    Ultimately it will depend on the type of scheme involved and the terms in the trust deed.


  • Options
    #3
    Kennie1
    Registered Users Posts: 302 ✭✭Kennie1


    When you reach 65 you may be entilted to transtition pension. This is based on the number of hours worked each week. In praticial terms for people who continue to work, they cannot get this benefit unless they reduce their hours substancially. When you turn 66 though provided that you have enough PRSI contributions paid you can claim contributory pension and work all the hours you want! Private pension have no bearing on this unless you have insufficent PRSI contributions, in this case though your private pension becomes means testable and your non-contributory is reduced on a scaled basis.


Advertisement