Purchasing PRSI Contributions to qualify for pension

crocked77

I was wondering has anyone done this? I worked in Ireland for roughly 6 and a bit years then moved abroad. I'm thinking of coming back to Ireland when I retire and if I understand correctly it is possible to purchase contributions as if you get to 10 years contributions you would get a state pension (contributory). Is there anywhere I can ask about this? I have a PPS number but need a new card apparently to check it online but last time I was home I wasn't able to get an appointment for the card unfortunately and I have to be there in person.

On a side note I assume if you are already of pension age it is too late to purchase contributions.

holliehobbie

you don’t need a card once you have the ppsn number. You need to register online.

hawthorne

https://www.boards.ie/discussion/2058357722/purchasing-prsi-contributions-to-qualify-for-pension

You need to have worked for 10 years first to be able to make voluntary contributions. Unfortunately you only clocked up 6 and a bit years so far. You could try to find work for the missing years. You need 10 years of paid contributions to be accepted for the voluntary payment scheme. There is also an age barrier- no payments after you turn 66.Other rules and regulations apply as well.

https://www.citizensinformation.ie/en/social-welfare/irish-social-welfare-system/social-insurance-prsi/voluntary-prsi-contributions/

38673_656d7d9c50a74c3a8b586ac024431236 (9).pdf

You may might be able to secure a pro rata pension by combining your foreign and Irish contributions if you live in one of those qualifying countries:

https://www.citizensinformation.ie/en/social-welfare/older-and-retired-people/pro-rata-pensions/#:~:text=This%20pro%2Drata%20pension%20was,half%20the%20normal%20maximum%20rate.

This would give you a small part Irish pension.

crocked77

https://www.boards.ie/discussion/comment/122317145#Comment_122317145

I double checked and once you give PPS number it says you need a Public Services Card to verify on mygovid.

"Your PPSN is not yet registered to a Public Services Card (PSC)". I guess nowadays this is done automatically. This is what I need to get in person.

crocked77

https://www.boards.ie/discussion/comment/122317305#Comment_122317305

Thanks. That makes sense then. So essentially I need to come back earlier and work for 4 years roughly if I want to get it. Am I correct in thinking if I work 10 years then I would end up with an average of 17.3 contributions per year and end up in the PRSI band 15-19 average payments as I believe it is calculated on a 30 years basis.

Where I am definitely has pensions agreements with Ireland as I was not allowed to draw down some of my pension money for a house purchase in Ireland whereas in the UK for example it would not have been an issue. In any case I guess the pro-rata option is what I need to check.

I do have a pension here and I did start a private pension in Ireland in my last year in Ireland (I think that was through my employer as I was 25) but as far as I recall that was pretty small.

bureau2009

Not sure that it's calculated on a 30 year basis. Citizens Information website is very useful. They also have helpline and walk-in offices here to deal with queries.

hawthorne

It is calculated on a 40 year basis.

And the average system is being replaced by the TCA system. Means: They drop the bands- and you are only getting in the end what you have paid for. It will be only TCA as of 2034.But you can work up to 70 if you want. That way you still have time to clock up more PRSI contributions.

520 contributions would earn you Euro 69.33 per week as of 2034 under todays rates.

Read this very carefully:

https://www.citizensinformation.ie/en/social-welfare/older-and-retired-people/state-pension-contributory/