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Pension contributions

  • 04-02-2020 06:23PM
    #1
    Nari85
    Registered Users, Registered Users 2 Posts: 63 ✭✭


    Need some help. I am currently a teacher working abroad for several years. I do not intend on moving home for a while. However, I am worried about not having a pension. Can I make payments into the state pension while I work abroad?


Comments

  • #2
    splinter65
    Registered Users, Registered Users 2 Posts: 9,420 ✭✭✭splinter65


    Nari85 wrote: »
    Need some help. I am currently a teacher working abroad for several years. I do not intend on moving home for a while. However, I am worried about not having a pension. Can I make payments into the state pension while I work abroad?

    No.


  • #3
    hawthorne
    Registered Users, Registered Users 2 Posts: 625 ✭✭✭hawthorne


    Nari85 wrote: »
    Need some help. I am currently a teacher working abroad for several years. I do not intend on moving home for a while. However, I am worried about not having a pension. Can I make payments into the state pension while I work abroad?

    Check this out:

    http://www.welfare.ie/en/Pages/Voluntary-Pay-Related-Social-Insurance-PRSI-Contributions.aspx

    No harm ringing them and asking them.
    Good luck!

    The other possibility is paying into the state pension fond of your host country. If it is an EU country or a country Ireland has a SW treaty with you might be able to combine your Irish contributions and your foreign contributions to get a pro rata pension when you reach pension age.


  • #4
    hblock21
    Registered Users, Registered Users 2 Posts: 738 ✭✭✭hblock21


    It depends on if you have enough contributions already from working in Ireland & another EU country before going abroad. You need 520 contributions before being accepted into the voluntary scheme. If you do qualify then you can back date 5 years paying a min €500 per year or 6.6% based on your previous years income for each of the 5 years.

    I am in the same situation as yourself. I was recently accepted and can fill up the gaps. If I choose to pay for all the 5 years it will result in me having 15 years contributions paid up and Im only 34 years old.


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