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Buy old age pension stamp question?

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  • 21-05-2011 3:23pm
    #1
    dahayeser
    Registered Users Posts: 155 ✭✭


    My father is retiring at age 62. He is going to be getting a small pension and is planing to survive on that until age 66 when his old age pension kicks in.

    He does not plan on claiming job seekers in the intervening period as caring for an unwell relative will occupy much of his time.

    He is worried however that his old age pension will be reduced as he won't be paying a stamp between the age of 62 and 66. Is this the case? Also is it possible for him to buy a old age pension stamps during this period? If so how much do they cost?

    Thanks in advance,
    Sean


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    #2
    mrsbyrne
    Closed Accounts Posts: 3,228 ✭✭✭mrsbyrne


    dahayeser wrote: »
    My father is retiring at age 62. He is going to be getting a small pension and is planing to survive on that until age 66 when his old age pension kicks in.

    He does not plan on claiming job seekers in the intervening period as caring for an unwell relative will occupy much of his time.

    He is worried however that his old age pension will be reduced as he won't be paying a stamp between the age of 62 and 66. Is this the case? Also is it possible for him to buy a old age pension stamps during this period? If so how much do they cost?

    Thanks in advance,
    Sean
    Sean your dad should definitely look into applying for Carers Allowance if he is going to be looking after someone who needs full time care and attention. He will get PRSI "credits" which will keep his entitlement to a State Pension intact. If he is neither working and making a PRSI contribution, or claiming a SW payment, then his Pension could be compromised as he will not be able to buy old age pension stamps as you suggest.
    http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/carers/carers_allowance.html


  • Options
    #3
    dahayeser
    Registered Users Posts: 155 ✭✭dahayeser


    Thanks MrsByrne,

    We were aware of the carers allowance alright. What put him off applying for it was that as a qualified electrician he was hoping to pick up the odd job here and there, for his own sanity and moral as much as anything. Being on carers allowance would make it illegal for him to do so ..

    I think self employed people can buy pension stamps. I was hoping my father might be able to do the same..


  • Options
    #4
    mrsbyrne
    Closed Accounts Posts: 3,228 ✭✭✭mrsbyrne


    dahayeser wrote: »
    Thanks MrsByrne,

    We were aware of the carers allowance alright. What put him off applying for it was that as a qualified electrician he was hoping to pick up the odd job here and there, for his own sanity and moral as much as anything. Being on carers allowance would make it illegal for him to do so ..

    I think self employed people can buy pension stamps. I was hoping my father might be able to do the same..
    your dad can be self-employed and still get carers allowance, just not for any more than 15 hours per week. See below:
    In order to be entitled to a Carer's Allowance:

    You must be living with, or in a position to provide full-time care and attention to a person in need of care who does not normally live in an institution. However, you may continue to be regarded as providing full-time care and attention, if you or the person being cared for is undergoing medical or other treatment in a hospital or other institution for a period not longer than 13 weeks.
    You must be resident in the State
    You must not live in a hospital, convalescent home or other similar institution
    You must be at least 18 years old and
    You must not be engaged in employment, self-employment, training or education courses outside the home for more than 15 hours a week. During your absence, adequate care for the person requiring full-time care and attention must be arranged.
    self employed people pay a stamp S PRSI contribution, all of which can be used to qualify for a state pension.
    http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/older_and_retired_people/state_pension_contributory.html

    If he chooses neither of these routes then he can indeed buy contributions. I didnt realise in the Op that your dad was self-employed.:o
    http://www.welfare.ie/EN/Publications/SW8/Pages/1Whatarevoluntarycontributions.aspx


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