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The Ould Pension

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13

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    #62
    Jellybaby1
    Closed Accounts Posts: 7,108 ✭✭✭Jellybaby1


    Sorry for wandering. :o We may have run out of steam on the pensions question but others may add more.


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    #63
    looksee
    Registered Users Posts: 28,568 ✭✭✭✭looksee


    I think there is lots of potential for the pension discussion, it would be a pity to lose it to another topic :)


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    #64
    Jellybaby1
    Closed Accounts Posts: 7,108 ✭✭✭Jellybaby1


    Himself's on the verge of applying for SW as his retirement party has been arranged! :D How long does it take for SW to reply to applicants, considering its not the pension but JSB he will have to apply for? Don't want to leave it too late.


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    #65
    campingcarist
    Registered Users Posts: 337 ✭✭campingcarist


    Check out the Citizens Information pages: Home > Social Welfare > Social welfare payments > Unemployed people > Jobseeker's Benefit


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    #66
    campingcarist
    Registered Users Posts: 337 ✭✭campingcarist


    looksee wrote: »
    Contributory OAP is €209 for full stamps, there are partial rates for lower contributions.
    Non Contributory is €219 but is means tested.
    So, the contributory pension to which a person as paid for over his/her lifetime is less than someone who hasn't paid their full share?

    Seems ridiculous.

    Although the non-contrib pension is means tested and "pays" more, it does have several drawbacks:
    1. the pensioner cannot go abroad on holiday for more than 3 weeks in a year.
    2. the pensioner cannot claim the pension if s/he resides abroad.

    Someone of the state full contributory pension may (as I understand it) live abroad and still receive their pension and the may be outside the country as long as they like.


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    #67
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    campingcarist wrote: »
    So, the contributory pension to which a person as paid for over his/her lifetime is less than someone who hasn't paid their full share?

    Seems ridiculous.

    Although the non-contrib pension is means tested and "pays" more, it does have several drawbacks:
    1. the pensioner cannot go abroad on holiday for more than 3 weeks in a year.
    2. the pensioner cannot claim the pension if s/he resides abroad.

    Someone of the state full contributory pension may (as I understand it) live abroad and still receive their pension and the may be outside the country as long as they like.
    Not that I have claimed either but I it understand the non-contributory to now be €227 and the contributory €238


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    #68
    Rubecula
    Registered Users Posts: 8,551 ✭✭✭Rubecula


    my pension is not due until another 4 years but I am retired, what can I do now that I can no longer work?


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    #69
    Masala
    Registered Users Posts: 3,493 ✭✭✭Masala


    Rubecula wrote: »
    my pension is not due until another 4 years but I am retired, what can I do now that I can no longer work?

    Can you go on the Dole??? No disrespect...but you hardly get a job at 60yrs ++ any so the Social can't be on you back too much.

    The Old Age Pension is around €233??? The Dole around €188???? So you could be short every week... but at least you have an Income for the 4 years???


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    #70
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Rubecula wrote: »
    my pension is not due until another 4 years but I am retired, what can I do now that I can no longer work?
    You can claim jobseekers if you are actively looking for work. If you can't work, you should apply for disability allowance.


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    #71
    Rubecula
    Registered Users Posts: 8,551 ✭✭✭Rubecula


    thanks folks, not easy in modern times, but at least it is better than previous generations had.


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    #72
    Jellybaby1
    Closed Accounts Posts: 7,108 ✭✭✭Jellybaby1


    So its happened already Rube? Sorry to hear that. I know my own relatives in the UK who are retired, seem to be doing quite well compared to us here, and they didn't have as good jobs that we had, so I put it down to the fact that our cost of living here in Ireland is so much higher than theirs. Can I just say regarding looking for work Rube that there may be some work that you CAN do. Might not be what you have been doing but you never know what is out there. I bumped into a man recently who I met on those Back to Work courses a few years ago and he was excited as a puppy because at the age of 65 he did manage to get a job. The difference I saw in him was amazing compared to the downhearted man I knew a few years ago. Chin up chum!


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    #73
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Jellybaby1 wrote: »
    So its happened already Rube? Sorry to hear that. I know my own relatives in the UK who are retired, seem to be doing quite well compared to us here, and they didn't have as good jobs that we had, so I put it down to the fact that our cost of living here in Ireland is so much higher than theirs.

    My experience is quite the opposite. The basic Old Age pension in the UK is only something like £125. My pensioner friends in the UK seem to struggle more than those here. Indeed I know several from the UK who moved to Ireland because it's easier to live on their pension here, when they get the additional home packages of free electricity allowance, fuel allowances, phone credits etc.

    I'm fortunate to have a good private pension and have never applied for the state pension or home packages, as I don't need them and feel I'm doing my bit by not drawing on them to allow more for others. I'm a very strong advocate of private pensions because I had a reasonable wage but put all I could into my retirement plan. As a result I retired at 54 and have had 20 years, so far, of a great life with no financial concerns.
    I wish younger people would get into pension funds earlier in their lives, as it's only going to get harder to live on a state pension and they will be much older when they qualify for it.


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    #74
    Rubecula
    Registered Users Posts: 8,551 ✭✭✭Rubecula


    I am getting (I have been told officially ) £73 per week. no idea if it is being sent yet as my bank has closed all of the local branches and I think I am still living off my final pay.


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    #75
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Rubecula wrote: »
    I am getting (I have been told officially ) £73 per week. no idea if it is being sent yet as my bank has closed all of the local branches and I think I am still living off my final pay.

    That seems very low Rubes. There must be other things you are entitled to. Have you the equivalent of The Citizens Advice Bureau over there that you can call in to for a chat?


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    #76
    Rubecula
    Registered Users Posts: 8,551 ✭✭✭Rubecula


    yes indeed they are open in the nearest town for 2 hours on Tuesday mornings


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    #77
    Geuze
    Registered Users Posts: 13,491 ✭✭✭✭Geuze


    campingcarist wrote: »
    So, the contributory pension to which a person as paid for over his/her lifetime is less than someone who hasn't paid their full share?

    Seems ridiculous.

    Non-con is less, that post was wrong.

    They mixed up the two rates.


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    #78
    Jellybaby1
    Closed Accounts Posts: 7,108 ✭✭✭Jellybaby1


    It actually would be interesting to have a list of pensions, special allowances, and costs from several countries just to compare differences. We can't apply for the OAP until next year so this year we are basically in limbo, supposed to be Jobseeking but we all know that the Government put us on this just to keep costs down for another year. I heard that the USA is not a good place to live if you are unemployed or on a low income. Does anyone know a website that might give these examples of pension/costs of living?


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    #79
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Jellybaby1 wrote: »
    It actually would be interesting to have a list of pensions, special allowances, and costs from several countries just to compare differences. We can't apply for the OAP until next year so this year we are basically in limbo, supposed to be Jobseeking but we all know that the Government put us on this just to keep costs down for another year. I heard that the USA is not a good place to live if you are unemployed or on a low income. Does anyone know a website that might give these examples of pension/costs of living?

    I don't have a comparison website but you can check the entitlements country by country.

    You do not want to be old, ill and on welfare in the USA.


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    #80
    looksee
    Registered Users Posts: 28,568 ✭✭✭✭looksee


    The UK government is helpfully sending me a small pension (actually quite generous all things considered) in respect of 4 years of working between leaving school and leaving the country....about half a century ago. I also get a teeny pension of about 1k pa from contributions for 8 years working here, plus a partial spouses' pension (about a third) and a partial (ie most of a) state contributory pension. All in all I am doing ok!


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    #81
    coffeyt
    Registered Users Posts: 304 ✭✭coffeyt


    Hi hoping someone can advise me, I'm enquiring on behalf of my parents.
    Ill try to keep this as brief as possible. My dad worked for over 40years in post office, my mum was stay at home mum, she never signed for stamps as did not know she could.
    My dad retired at 60 and gets a private post office pension of just shy of 300 per week. When he turned 66 he enquired at social welfare office and was advised he was not entitled to state pension as the stamps he paid with an post were under an old scheme and he did not qualify. He took that as given. That was 4 years ago.
    I was only informed of this last year by mum and did some research myself and discovered he should have applied for a non-contributory with my mum as a dependant. I applied for this for them and they received a small amount each but had lost out on nearly 3 years due to being misinformed.
    My dad turned 70 earlier this year and my mum just turned 66, I have applied for her non contributory in her own right and just waiting on that.
    Now for the crux, I only recently heard of the household benefit package (on this thread by pure chance) so have downloaded the form to apply but from looking at the info, it appears they would have been entitled to it since last year also so does anyone know if it can be backdated as I'm already quite annoyed that they missed out on 3 years of pension payments
    Hoping someone can help!!!


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    #82
    jamesthepeach
    Registered Users Posts: 992 ✭✭✭jamesthepeach


    Look at the state of it now.

    People who started working a summer job at 15 and then stopped to finish school and college and then started working at 21 until retirement are penalized in the amount of their pension.

    Those who only started working at 21 and never paid PRSI before that will get more pension than the person who did the summer job at 15.


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    #83
    looksee
    Registered Users Posts: 28,568 ✭✭✭✭looksee


    jamesthepeach wrote: »
    Look at the state of it now.

    People who started working a summer job at 15 and then stopped to finish school and college and then started working at 21 until retirement are penalized in the amount of their pension.

    Those who only started working at 21 and never paid PRSI before that will get more pension than the person who did the summer job at 15.

    If both continued and got the requisite number of payments in then it will not make any difference? The amount of payments you could have made for the three months of a summer job (assuming any payments were made at all) for what, 3 years? would not be enough to make a difference.


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    #84
    jamesthepeach
    Registered Users Posts: 992 ✭✭✭jamesthepeach


    looksee wrote: »
    If both continued and got the requisite number of payments in then it will not make any difference? The amount of payments you could have made for the three months of a summer job (assuming any payments were made at all) for what, 3 years? would not be enough to make a difference.


    http://www.bruenfs.ie/latest-news/will-you-qualify-for-the-state-pension


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    #85
    Geuze
    Registered Users Posts: 13,491 ✭✭✭✭Geuze


    Jellybaby1 wrote: »
    It actually would be interesting to have a list of pensions, special allowances, and costs from several countries just to compare differences. We can't apply for the OAP until next year so this year we are basically in limbo, supposed to be Jobseeking but we all know that the Government put us on this just to keep costs down for another year. I heard that the USA is not a good place to live if you are unemployed or on a low income. Does anyone know a website that might give these examples of pension/costs of living?

    Difficult to do, as in every other EU country the State Pension is a % of former earnings.

    Only here is it flat-rated.


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    #86
    Geuze
    Registered Users Posts: 13,491 ✭✭✭✭Geuze


    In the USA, as far as I can make out, if you retired at 65 on 5kpm / 60k, you would get a 40% pension, or 2k pm.

    https://en.wikipedia.org/wiki/Social_Security_(United_States)#Social_Security_Benefits_and_Income_2012

    https://www.ssa.gov/oact/progdata/retirebenefit1.html


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    #87
    Geuze
    Registered Users Posts: 13,491 ✭✭✭✭Geuze


    jamesthepeach wrote: »
    Look at the state of it now.

    People who started working a summer job at 15 and then stopped to finish school and college and then started working at 21 until retirement are penalized in the amount of their pension.

    Those who only started working at 21 and never paid PRSI before that will get more pension than the person who did the summer job at 15.

    Yes, the system can penalise you if you started paying SI early, and then had a cont gap.

    Compared to somebody who started paying later, with fewer conts overall, but no gaps.


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    #88
    Fingers Mcginty
    Registered Users Posts: 2,563 ✭✭✭Fingers Mcginty


    I've a bit to go yet before pension age but you lads seem to be in the know.
    Is the contributory pension means tested? I've been paying prsi all my life so will that entitle me to collect it along with a private pension i'll be collecting at 65.


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    #89
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Fingers Mcginty wrote: »
    I've a bit to go yet before pension age but you lads seem to be in the know.
    Is the contributory pension means tested? I've been paying prsi all my life so will that entitle me to collect it along with a private pension i'll be collecting at 65.

    No it is not.

    http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/older_and_retired_people/state_pension_contributory.html


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    #90
    Jellybaby1
    Closed Accounts Posts: 7,108 ✭✭✭Jellybaby1


    We are looking at forms online at present and it looks so complicated. The state pension is not payable until you are 66. From the age of 65 to 66 you have to go on the Jobseekers Benefit as they deem you to be unemployed, which you are, and it costs the Government less to do this. We are now wondering about the Households Benefits package for when we will be applying, and on that form it actually asks you if you want to be means tested, so is it or isn't it? Surely it can't be by request of the applicant? I can't make sense of it all.


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    #91
    Fingers Mcginty
    Registered Users Posts: 2,563 ✭✭✭Fingers Mcginty


    Dalary Salty Dice wrote: »
    No it is not.

    http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/older_and_retired_people/state_pension_contributory.html

    This applies to me "If you were born on or after 1 January 1961 the minimum qualifying State pension age will be 68" even though i retire from my job at 65
    so basicslly try and live on company pension for the 3 years ?


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