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Help me make sense of my pension please

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  • 12-04-2012 11:21am
    #1
    Gilally
    Registered Users Posts: 128 ✭✭


    it tells me Salary of 37,339.00 that I should get 53,832.15 lump sum, then it says 14,320.08 per annum, I presume this is either/or situation? I either take the lump sum or I can earn 14,320 per annum from my pension? It then says supplementary pension until 66 is 17000 based on social welfare payments..

    What does all this mean? Thanks in advance

    I am due to retire in 35 years!


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    #2
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    do you work for a dublin university?


  • Options
    #3
    Gilally
    Registered Users Posts: 128 ✭✭Gilally


    no why?


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    #4
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    it looks a similar description to my own pension entitlements. From the way it's written on mine I'd get the lump sum AND the annual pension. the supplementary pension is the state old age pension but mine states the current rate of this is Euro: 12,017.05 per annum


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    #5
    Gilally
    Registered Users Posts: 128 ✭✭Gilally


    Oh right! Well I do work for a college it is just not in Dublin!
    Thanks very much for the reply

    this is how it looks on what payroll sent me
    PENSION TO DECEMBER 2011 Earnings < per week

    Current OACP 230.30 24,034.11

    Salary A 37,339.00 PWS/Max

    Lump Sum B [Salary*RecSer*3/80] 53,832.15
    Less Buyback 0.00
    Total Lump Sum Due 53,832.15




    Per Annum Per Month

    Pension C [(Salary(-2*OAP)*RecSer)*1/80] 14,320.08 1,193.34

    Total Pension until 66 D [Salary*RecSer*1/80] 17,944.05 subject ot Social Welfare payments


    Supplementary Pension 3,623.97


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