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UK and Irish state pension

  • 05-06-2022 8:31am
    #1
    K61
    Registered Users Posts: 3 ✭


    Is it possible to get a full Irish and full UK state pension? If so, is it worth topping up my UK one as I live in Ireland?



Comments

  • #2
    Shedite27
    Registered Users, Registered Users 2 Posts: 9,419 ✭✭✭Shedite27


    In Ireland at least it's based on home many years you've been working here and paying tax. So if it's simialr in UK, I don't see how you could be working fulltime in both for 40 years.



  • #3
    Geuze
    Registered Users, Registered Users 2 Posts: 13,592 ✭✭✭✭Geuze


    https://www.boards.ie/discussion/2058248872/uk-and-irish-state-pension


    It is possible to get a full Irish State Pension after 10 years working.

    So it is possible to get close to a full UK and Irish State pensions, depending on years worked in both places, and buying UK years.

    See here for an example:

    https://www.askaboutmoney.com/threads/how-much-irish-and-uk-state-pension-can-i-get.227545/



  • #4
    K61
    Registered Users Posts: 3 ✭K61


    Thanks for the answers. i first started and have been working in Ireland since 2004. Prior to that I spent various periods working in the UK. I won’t have enough contributions get full pension from the UK but would like to maximise it if I can claim both. I have about 4 years to go.



  • #5
    coylemj
    Registered Users, Registered Users 2 Posts: 25,479 ✭✭✭✭coylemj



    https://www.boards.ie/discussion/comment/119163792#Comment_119163792

    The biggest risk for you is that before you reach pension age, the Irish system drops the averaging method and goes full-on for the 'total contributions approach' (TCA). If that happens, you will get 55% (22/40) of the full Irish pension, assuming you work for 4 more years and end up with 22 years full contributions when you reach 66.

    The averaging system is much better for you as you have a straight 18 years contributions with no breaks. Even if you stop working before you reach 66, you can sign on for credits at your local social welfare office to bridge the gap between when you stop working and when you reach pension age.



  • #6
    K61
    Registered Users Posts: 3 ✭K61


    Yes I was also thinking about that. The way the government has been taking it’s time about pension reform can only be good for me. I expect there will be a transition period so I’m hopeful that I can benefit from their tardiness. If not it wasn’t meant to be.



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  • #7
    coylemj
    Registered Users, Registered Users 2 Posts: 25,479 ✭✭✭✭coylemj


    https://www.boards.ie/discussion/comment/119165418#Comment_119165418

    The two systems have been running side by side for several years now so the 'transition period' is ongoing. They calculate your pension using both systems and you get the higher number. Pension reform has come to a complete stop, partly because of Covid but also because of the reluctance to do anything about the state pension this side of the next general election.

    The Report of the Commission on Pensions (Oct 2021) is currently gathering dust on a shelf. And according to the Roadmap for Pension Reform 2018-2023, TCA was supposed to be implemented by Q3 2020 but that obviously has not happened.



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