Should a returning emigrant buy back stamps?

Donald Trump

hi,


someone might have experience with this




Can a returning emigrant buy back stamps? i.e. for state pension. Is it worth it to do so? How much would it cost?

Atlantic Dawn

Some info here...
http://www.welfare.ie/en/Pages/Voluntary-Pay-Related-Social-Insurance-PRSI-Contributions.aspx

To be eligible to make voluntary contributions you must:

Have at least 520 PRSI contributions paid under compulsory insurance in either employment or self-employment
Apply to make your voluntary contribution within 60 months (5 years) of the end of the last completed tax year (contribution year) during which you last paid compulsory insurance or you were last awarded a credited contribution. (From February 2017, the time limit for making voluntary contributions is extended from 12 months to 60 months.)
Agree to pay voluntary contributions from the start of the contribution week that follows the week in which you leave compulsory insurance

If you paid PRSI at Class A, E or H you pay a high rate contribution of 6.6% of your reckonable income in the previous tax year, subject to a minimum payment of €500.

skippy2

For those who it may be of benefit to ..........You dont have to be a "returning emigrant" you can be an "emigrant" also and make voluntary contributions while outside the country if it is in your interest

Mrs OBumble

Were you working overseas? Is there a pensions bilateral for the countries involved? If so, there's no need to buy back.

Atlantic Dawn

Another question would be how old you are, the younger you are the less chance there will be a state pension in it's current form when you hit retirement age.