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Pension expectation, if any

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  • 15-08-2023 5:26pm
    #1
    Bykobap
    Registered Users Posts: 247 ✭✭


    Screenshot_20230815-163830.png

    Hi I am interested if I'd qualify for any pension with these numbers.

    At this stage I'd be over 520 paid contributions 2023 included. Do credited contributions count towards any higher rate etc.?

    I am inclined to move to an EU country for good to better my current wellbeing situation, let's say I'd be off grid hearding sheep & attending to the honey bees for private use(not my land, in the middle of nowhere with landowners permission).

    I owe no land or property nor do I have any substantial amount of money.

    Once I get to pension age in 20+ years time would I be able to apply for it from outside Ireland but within EU, will the threshold of 520 paid contributions shift & will I have to come back and add to it?.

    To me these are not straightforward issues, hence the post.

    If there's an establishment where I can get these basic pension queries resolved please let me know.

    Thanks



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    #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,000 Mod ✭✭✭✭Jim2007


    It does not work the way you think... there is a very clear but complex procedure for dealing with state pensions across the EU.

    A quick overview would be as follows:

    • When you go off to heard sheep and manage the bees, you will be obliged to follow the procedure in that country to establish residency and comply with their state pension rules.
    • When you retire in the EU/EEA/CH you will apply for your state pension in that country and they are responsible for communicating with the pension agencies in the other EU/EEA/CH states and will calculate your total pension entitlement based on maximising your contributions across all states.
    • Once your total pension has been calculated it apportioned across the states in which you made contributions in.
    • The state paying the highest portion of you pension entitlement is the state responsible for your healthcare, unless you qualify independently for healthcare in the state in which you reside.

    So maximise all the contributions you can make and apply for the pension as soon as you reach pension age in any of the states you made contributions in and make the application in the state where you are resident when you reach retirement age.



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    #3
    Bykobap
    Registered Users Posts: 247 ✭✭Bykobap


    Excellent, thank you for you post.

    Only ever worked in Ireland, for now.



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