Jobshare & Pension

Icsics

I'm hoping to jobshare next yr & looking at keeping up my pension payments. Is this possible? How would I go about it & does it work out very expensive? Thanks

Geuze

I know a teacher who jobshared, i.e. worked half hours for a year.

The occupational pension continues as normal, and pension conts continue as normal.

He didn't have to do anything, pension simply continued.

solerina

Icsics wrote: »

I'm hoping to jobshare next yr & looking at keeping up my pension payments. Is this possible? How would I go about it & does it work out very expensive? Thanks

For every year you job share you make pension contributions equal to half a regular year, you can apply to pay full pension contributions ( according to the union rep I asked) but many people can’t afford full pension contributions from a job share wage.

dingding

Probably need to check, it may be more expensive than just doubling the pension payment. As this pension is not backed up by service, it may be considered as buying added years which is now very expensive. You could get a price for added years based on the number of years you may be working less than full and buy it back over your remaining service.

Millem

OP if you are married keep €26,300 on your income in the 20% bracket.
Anything over this transfer to your OH so some of your wages be in the 40% tax bracket.
It means you will be getting 40% relief on your pension or income protection rather than 20%.

A colleague is buying years that they did not work....the cost is absolutely outrageous!! I think an AVC would be better value.