Pension deduction?

better call saul

I see I my first payslip as a secondary teacher that there's a deduction for a pension? I don't have a private one so I'm not sure what this is? None of the rest of the teachers are too sure either? Should I have a private pension too?

evolving_doors

better call saul wrote: »

I see I my first payslip as a secondary teacher that there's a deduction for a pension? I don't have a private one so I'm not sure what this is? None of the rest of the teachers are too sure either? Should I have a private pension too?

Are you paid by the department.... or the school?
Strange that no one else knows! The vice principal should know...

sitstill

better call saul wrote: »

I see I my first payslip as a secondary teacher that there's a deduction for a pension? I don't have a private one so I'm not sure what this is? None of the rest of the teachers are too sure either? Should I have a private pension too?

If you are Department or ETB paid, then you will be paying into the compulsory Public Service Pension Scheme - as are all of your colleagues. Strange that none of them know what it is?

better call saul

sitstill wrote: »

If you are Department or ETB paid, then you will be paying into the compulsory Public Service Pension Scheme - as are all of your colleagues. Strange that none of them know what it is?

Cool thanks! None of the young staff knew!

Should I still open up a private pension too?

Have you any info on the public scheme I'm paying into?

Pwpane

Do a little research.

Try the education.ie website or the union websites. Ring the DES and ask for a brochure.

Geuze

better call saul wrote: »

I see I my first payslip as a secondary teacher that there's a deduction for a pension? I don't have a private one so I'm not sure what this is? None of the rest of the teachers are too sure either? Should I have a private pension too?

I'm a small bit worried that the people teaching the next generation aren't aware that as public servants they are members of a PS occupational pension scheme.

No, as you are now a member of an occupational pension scheme, there is no need to get a private pension as well.

Anyways, plenty of details here:


http://www.per.gov.ie/public-service-pensions/

Geuze

better call saul wrote: »

Cool thanks! None of the young staff knew!

Should I still open up a private pension too?

Have you any info on the public scheme I'm paying into?

The contribution rate is 6.5% of wages, though it's actually not quite as simple as that.

The benefit is a pension of half your final salary, based on 40 years service, though, again, it's not quite as simple as that.

For recent entrants to the PS, the pension is not based on final salary, it's based on career-average earnings.

km79

have a look at the OPs posting history before wasting time responding
particularly their last post on TY forum http://touch.boards.ie/thread/2057229365/27/#post93042481

Geuze

I see what you mean.

As an educator myself, I am worried.......

As the child of a teacher, I say "they don't make em like they used to".

As a parent, I am a tad concerned.............

Inspector Coptoor

That's possibly THE most inappropriate comment I've ever seen from a teacher on boards.

For Shame

evolving_doors

km79 wrote: »

have a look at the OPs posting history before wasting time responding
particularly their last post on TY forum http://touch.boards.ie/thread/2057229365/27/#post93042481

Cheers, thread closed for now... don;t forget to report!! etc..