Public Service Pension - Professional Added Years.

dingding

I am in a public sector pension scheme and I am hoping to retire this year.

our scheme allows for professional added years and I will be making an application.

Can anyone recommend a consultant / advisor who is familiar with the scheme and the application process.

I have two roles a temporary initial role and a later permanent role which was a promotion in the same sector.

I contacted the company who provided training for our institute, however they only advise companies, not individuals.

CramCycle

I'd be interested in this too, what exactly does this mean? You get years for working elsewhere or its treated like a qualification that helped you do the job better. I know how to buy years and I do recall you could get a ministers signature to make it look like you done the full 40 but this doesn't sound like what you want.

dingding

Professional Added Years (PAY) Award Scheme | University of Limerick (ul.ie)

The link above explains how it works in UL. I am not in UL but have a similar scheme.

Essentailly if the minimum experience required, and the minimum time to get the qualification mean that you would not have 40 years' service by 65, your pension can be topped up by added years to give you 40 years service at 65.

It is not that straight forward, as it looks at previous non-public service and public service pension earned during the period you were getting your quallification / work. experience

Also if you were the only person interviewed for yuor job it has implications as well.

dingding

If I get any good recommendations, Ill post them back here.