Thinking of a career move into secondary teaching.

You’ll be a new entrant to the superannuation scheme. This is not nearly as gold plated as the old scheme. I’d look into it very carefully. If you’re not on full hours for each year, your 1/80th for that year is reduced pro rata. You only increase your combined pension over state contributory after your prsi contributions have reached a threshold. If you find yourself scrambling for hours for a good chunk of the start of you’re career you may find, pension-wise, you’re no better off than any paye worker relying on state pension alone. There’s no way of ‘boosting’ income through the various pensionable alliwances. They’re all done away with.

Yep. You’d pay prsi to fund your state pension, and a superannuation contribution (a percentage of net salary) to fund the excess.

What would your subjects be? Are they core? Do you have each one to degree level? I've met chemists who are teachers but not "chemistry teachers" on the Teaching Council's terms, and in my case getting a second master's wasn't compatible with adding more subjects, so check that carefully.

Your subject qualifications have to come from undergraduate taught studies. Subtract postgrads/masters, self-directed projects, work placements and dissertations and you may find that you don't actually have enough credits. Half of my undergraduate degree went unrecognised.

Yep, nail on the head.

Yep. I also get a masters allowance of €6564 per annum. For an MSc in a subject that is entirely unrelated to my teaching work. Not complaining, obviously, but it doesn’t make an iota of sense.

A few questions….

How do you know you would like to be a teacher? Do you have any evidence other than youthful ambition resurrected?

Have you tested yourself in any way with a group of students? ie. have you coached extensively, taught, lectured to any groups?

Have you checked your qualifications with the Teaching Council as mentioned above?

How do you know you would be good? ….. because if not, it can be a lonely place.

Are you aware there is a shortage of Maths teachers but a surplus of Science teachers?

Are you prepared to get serious training in Special Needs in order to help you get a job?

Are you prepared to accept 2 or more years of subbing/ part time contracts etc. before you nail a full time job?

Have you spoken with an experienced professional who can give you some worthwhile advice, eg. somebody in the teaching field whom know and trust and who will give you honest answers? eg. a school guidance counsellor, Principal/ Deputy?

If you are passionate and have had good advice, then why not?

If you are sure it is for you and have done proper due diligence, do it.

Notice there is very little mention of money in any of my questions

Best wishes.

10 more years….

3 more years for me to get to 33/55 but seriously considering going after this year on cost neutral. 'All changed, changed utterly. A terrible beauty is born'. I feel exactly like the poster above, is it only October? Anyone else here go early and did you regret it?

Surely public sector workers should have reduced PRSI obligations?

Be aware that pension contributions under the new PS scheme have high thresholds before deductions are applied so occupational pensions deductions are quite small as a percentage of your salary.

Your hypothesis is based on a very young teacher with exceptional (really exceptional) luck and success. It's unusual to start and remain on full hours, no matter how good a teacher is. You're looking in the wrong place for anything "guaranteed".

Yes, you are wrong.

You can't retire in your 50s and receive the pension.

That and you don't know what uptake of your subject will be like in a few years. A fad in another subject could send yours into decline, and you potentially only have one.

This is what you said:

"Say a teacher (hypothetically) works for 27 years after getting hired and retires in their early 50’s.

They will then be at the top of the payscale, ie, €81,000.

They can retire early in their early 50’s on (27/80)*€81,000 less SPC which is ca. €14,000 pa.

That’s still a guaranteed income of over €13,000 p/a that they can receive in addition to whatever other job they transfer to, whether it’s public or private.

Do I have my figures wrong?"

It is not possible to retire at age 52,53,54 and receive an occupational pension from that age onwards.

I am referring to the PS occupational pension.

A teacher can't retire at age 52/53/54 and receive the occupational pension at that age.

I advise you to read the attached document, from the ASTI.

It is helpful if you wish to understand PS pensions.

Yes, it's not a straight 6.5% of wages for post 1995 staff.

It is co-ordinated with PRSI.