There are different types of pensions that you may be entitled to on retirement from employment in Ireland. Depending on how many social insurance contributions you made or depending on your financial situation you may be entitled to a pension from the state. Many employers operate pension schemes for their employees, these are called Occupational Pensions. You can also organise your own personal pension account.
There are 2 different types of state pension: one is based on the amount of social insurance contributions you have paid, State Pension – (Contributory) and one is based on a means test, State Pension – (Non-Contributory).
The Contributory State Pension is payable to people in Ireland from the age of 66 who have enough social insurance contributions. It is not means tested and you may also have income. You may have to pay some tax on this pension.
You will qualify for Contributory State Pension if:
Homemaker’s Scheme allows a homemaker to qualify for the State Pension (Contributory). It makes it easier for a homemaker to qualify for the State Pension (Contributory).
A homemaker is a man or woman who gives up working outside the home on or after 6th April 1994 to care for a child under the age of 12 or a person with a disability.
For more information search for ‘Homemaker’s Scheme’ on www.welfare.ie.
If you worked in a country covered by EC Regulations or a country with which Ireland has a Bilateral Social Security agreement you may qualify for a pro-rata pension. This pension combines your Irish social insurance record and your social insurance record in the other country. You collect your pro-rata pension in the country you are resident in.
You should check your social insurance record with the PRSI Records Section in the Department of Social Protection. In order to check your social insurance record you will need your PPS number.
You should apply 3 months before reaching the age of 66 (or 6 months if you have paid contributions abroad). You do not have to be retired from work to make your application.
You must complete Form SPT/SPC1. This is available from your local Social Welfare Office, the Department of Social Protection and www.welfare.ie
If you would like more information you should contact your local Social Welfare Office or the Department of Social Protection.
The Pension Services Office also has a Pensions Forecast unit which gives advice to people over 60 on the pension contributions they may need to make to ensure they get a State Contributory Pension.
If you do not qualify for a Contributory Pension, you can apply for a non-Contributory Pension.
The Non-Contributory State Pension is a means-tested payment for people aged 66 or over who do not qualify for Transition State Pension or Contributory State Pension based on their social insurance record.
To qualify you must:
You should apply at least 3 months before reaching the age of 66.
You must complete Form SPNC1 and return it to:
State Pension (Non-Contributory) Section
Pensions Services Office
LoCall: 1890 500 000
You must send the following original documents (no photocopies):
In general, large employers in Ireland have occupational pension schemes, but many smaller employers throughout the country do not. You should ask your employer directly about this.
Each pension scheme has its own set of rules. Pension schemes nationally are generally regulated by the Pensions Board.
Special schemes called PRSAs were introduced to be used instead of occupational pension schemes by employers who do not wish to sponsor such schemes.
A PRSA (Personal Retirement Savings Account) is a low-cost, easy-access private pension savings account. It is designed to allow you save for retirement. You are entitled to invest in a PRSA regardless of your employment status. PRSAs are transferable from job to job and they are available from a variety of providers.
PRSAs are provided by private banks or life assurance companies.
If you would like further information, you should contact:
The Pensions Authority
Verschoyle House, 28-30 Lower Mount Street, Dublin 2.
Telephone: 01 6131900
Lo-call: 1890 656 565
There is also a Pensions Calculator which allows you to calculate how to estimate the amount of money you would need to contribute to your pension to end up with the level of pension you expect in retirement.
This project is co-financed by the European Commission under the European Integration Fund and is supported by the Office for the Promotion of Migrant Integration in the Dept of Justice & Equality & Pobal.