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HSE pension query

  • 23-06-2016 10:18pm
    #1
    jenga-jen
    Registered Users, Registered Users 2 Posts: 351 ✭✭


    Hi,

    I've been employed for just under 2 years with the HSE and have been paying into my pension. I'm not sure, given the pension levy costs, that this represents the best pension given that I only started out at 30.

    I've seen that you can apply for a reimbursement of your contributions, less an adjustment for tax, if you are leaving the HSE before the 2 year mark. I won't be leaving the HSE but I do wish to leave the pension scheme.

    Just looking for some advice/opinions as to whether I'd qualify to do so and whether or not it would be worthwhile?

    Thanks


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,476 ✭✭✭✭coylemj


    If you are a permanent employee in the public sector then you have no choice as to whether you are in the pension scheme or not. I believe some schemes allow you to opt in or out of the spouse's (formerly widows and orphans') pension but the main scheme for your own pension is not optional. I have no idea what alternative you have in mind but if someone has advised you to move and has proposed an alternative scheme, I suggest you run a mile from him. There is no better pension than the one you get in the public sector and if you think you can do better, you are seriously ignorant about pensions or have been very poorly advised.

    Even if you want to supplement your pension, you are still better doing it within the HSE scheme (via AVC) as you will get the tax allowance via the payroll instead of having to claim it after the event as the deductions will be made before tax is calculated.


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