Old Age Pension entitlments.

Zulu

Can anyone tell me how much I can look forward to, when eventually I'll be able to draw the OAP?
I'm self employed, but I my company gets a PAYE/PRSI bill each year.

Cheers in advance.

Stark

Non-contributory pension as far as I know. It's about a tenner a week less than the contributory pension: €219 pw for under 80, €229 pw if you're over 80. It might be a good bit less by the time you retire though with an ageing population and declining finances. You'd be advised to put money into a pension scheme of your own as a backup.

Zulu

Cheers Stark!
Yea I appricate it'll probably drop significantly by the time I'm fortunate enough to draw on it & I do have other arrangments, I'm just trying to calculate (roughly) how much of an income I may have.

Riskymove

Zulu wrote: »

Cheers Stark!
Yea I appricate it'll probably drop significantly by the time I'm fortunate enough to draw on it & I do have other arrangments, I'm just trying to calculate (roughly) how much of an income I may have.

a non-contributory pension is means tested afaik so you may not get anything

Zulu

ouch

Pharaoh1

As far as I understand if a self-employed individual pays whatever PRSI is due they will qualify for a contrib pension subject to having sufficient contributions. What exactly constitutes "sufficient contributions" has changed over the years.
The PRSI class is different than that for an employee and does not entitle a self employed person to jobseekers benefit (as opposed to allowance) or the other benefits, ie dental.
I'm open to correction.

Riskymove

Social welfare benefits and pensions under Class S PRSI

• State Pension (Contributory)

• Guardian’s Payment (Contributory)


• Widow’s or Widower’s (Contributory) Pension

• Maternity Benefit

• Adoptive Benefit

• Bereavement Grant