Retirement Planning

If you find yourself thinking more about retirement from the public sector, we’d like to help with your plans. In order to plan properly, you need the facts.

The key questions we are asked are,

• When can I retire?
• What will my pension be?
• What will my lump sum or gratuity be?
• How much will I take home every fortnight or month in retirement?
• Am I currently doing the right thing or what should I do to improve my situation?
• Do I qualify for a contributory State pension?
• Should I use my lump sum to reinvest or should it be used to clear loans and mortgages?
• How will my AVC benefits be treated for tax and should I choose taxable cash, an annuity or an Approved Retirement Fund?
• What is the most efficient way to ensure my pension assets pass to my next of kin in the event of my death?

The public sector pension, Superannuation, can be a complicated area. At PSF we specialise in answering these questions for Ireland’s public sector and civil service members. If a family member is self-employed or working in the private sector we can advise on the entire household’s pension situation.

Given the complexities of pension calculations, there are various Pension Modeller calculators available. These Modellers are a useful tool in assisting you as you review your pension entitlements.

The following are links to the main calculators available based on when you started or re-entered public service:

• Pre 6th April 1995 
• 6th April 1995 – 31st March 2004
• 1st April 2004 – 31st December 2012
• 1st January 2013
• Teachers’ Pension modeller
• Nurses Pension modeller
• Prison Officers Pension Modellers:
  • Pre 6th April 1995
  • 6th April 1995 – 31st March 2004
  • 1st April 2004

Call Kenneth in Roscommon on 086-4677776 or email ken@psf.ie if you wish to discuss