Leaving Ireland for good - pension refund entitlement

winterfall

Hi there,

I have been working in Ireland for almost 3 years and will be leaving Ireland for good to go and work in New Zealand. My question is, can I get my pension contributions refunded?

Thanks.

manonboard

winterfall wrote: »

Hi there,

I have been working in Ireland for almost 3 years and will be leaving Ireland for good to go and work in New Zealand. My question is, can I get my pension contributions refunded?

Thanks.

do you mean your PRSI contributions?

or

do you mean private pension contributions?

Avatar MIA

winterfall wrote: »

Hi there,

I have been working in Ireland for almost 3 years and will be leaving Ireland for good to go and work in New Zealand. My question is, can I get my pension contributions refunded?

Thanks.

I think the only refunds you'd be entitled to are those you paid into a company pension you were with for less than two years.

winterfall

manonboard wrote: »

do you mean your PRSI contributions?

or

do you mean private pension contributions?

I mean PRSI contributions. I was working for the HSE

Avatar MIA

winterfall wrote: »

I mean PRSI contributions. I was working for the HSE

No, you cannot get these back.

Avatar MIA

However, PRSI is deducted on a cumulative basis. If you stopped working before the year is out, you may want to request a P21 from Revenue. This will be possible once your employer sends in their P35.

You may be entitled to a tax refund.

manonboard

I agree with the above.

The PRSI are not just for pension, they are for all the general social supports that prop society up so in essence, it's viewed as if you already benefited from this (received your reward)

Bubbaclaus

Avatar MIA wrote: »

However, PRSI is deducted on a cumulative basis. If you stopped working before the year is out, you may want to request a P21 from Revenue. This will be possible once your employer sends in their P35.

You may be entitled to a tax refund.

PRSI is not on a cumulative basis.

Avatar MIA

Bubbaclaus wrote: »

PRSI is not on a cumulative basis.

You're right, it's a flat 4% rate.

They'll still possibly be able to get IT/USC back.

mel.b

Unfortunately not - you can only get it refunded if you have worked for less that 2yrs. From the HSE website..

Can I obtain a refund of my contributions in any circumstances?

Yes. If you resign on or after 02/06/2002 with less than 2 years service and do not take up pensionable employment with another authority you are entitled to a refund of superannuation contributions less appropriate tax deductions.

Any person who resigns on or after 02/06/2002 with 2 years or more service and who became pensionable before 01/02/1995 and does not take up pensionable employment with an authority to which the Local Government Scheme applies or is transferable may opt to take a refund of superannuation contributions or preserve their benefit.

Any refund of superannuation contributions is subject to a tax deduction.

http://www.hse.ie/eng/staff/benefitsservices/Pension_Management/Frequently_Asked_Questions/#What%20does%20transferred%20service%20mean?

coylemj

mel.b wrote: »

Unfortunately not - you can only get it refunded if you have worked for less that 2yrs. From the HSE website..

Can I obtain a refund of my contributions in any circumstances?

Yes. If you resign on or after 02/06/2002 with less than 2 years service and do not take up pensionable employment with another authority you are entitled to a refund of superannuation contributions less appropriate tax deductions.

OP is asking about PRSI contributions, the info. you provided relates to pension contributions.

PRSI contributions covers occupational benefits like sickness, disability, contributory widow's pension etc. Asking for those contributions back is like asking the VHI to refund your premium for last year because you had no claims.

Mrs OBumble

New Zealand and Ireland have a bilateral agreement for pensions: contributions here will count towards your state pension entitlement there.

So you don't really want them back.

murphaph

Mrs OBumble wrote: »

New Zealand and Ireland have a bilateral agreement for pensions: contributions here will count towards your state pension entitlement there.

So you don't really want them back.

Indeed and it may even make sense for the op to pay prsi voluntarily to make up the required minimum number of contributions to gain pension entitlement in Ireland on a standalone basis, but they'd need to do the sums on that.

Bubbaclaus

murphaph wrote: »

Indeed and it may even make sense for the op to pay prsi voluntarily to make up the required minimum number of contributions to gain pension entitlement in Ireland on a standalone basis, but they'd need to do the sums on that.

You can only make voluntary contributions if you have already reached the minimum 10 years, so not available for OP.

Charisteas

Avatar MIA wrote: »

I think the only refunds you'd be entitled to are those you paid into a company pension you were with for less than two years.

Just out of curiosity, what if someone was leaving Ireland for good, but they had been paying into a company pension for more than two years?