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Irish Times
3 days ago
- Business
- Irish Times
Can I pay into Irish State pension from the UK?
I was born in Ireland and moved to London in 2002 ( aged 22) after graduating from university . I have been working in London since then (and will qualify for a full UK state pension upon retirement) and have no immediate plans to come home to live in Ireland. I did summer jobs in Ireland before leaving and so have paid some tax from 1997 until 2001. My query is to whether I can qualify for a full Irish State pension and what is the most straightforward way to set this up while living in London. Can I make voluntary contributions for an Irish State pension in the same way that it is possible to do for a UK pension? READ MORE Can I set up an Irish limited company and pay myself a nominal salary in order to make the required pension contributions? Is there any other way for which I can set myself up for an Irish State pension in a relatively straightforward manner? I really appreciate any help or guidance you can give me in this matter. Mr JK The principle of State contributory pensions – and other welfare benefits that are not means tested – is that you qualify on the basis of your social insurance contributions over a period of time. All countries that I am aware of have a minimum threshold before you can qualify for these benefits. In Ireland, that number is 520 – 10 years of PRSI (Pay Related Social Insurance) contributions . In your case, despite working here for a few years before heading for the UK, you are well shy of that threshold. So, as of now, you would not qualify for any Irish State pension. [ How can I find what my likely State pension will be? Opens in new window ] And, given that the 520-contribution figure is also a requirement to make voluntary PRSI contributions, you will not be eligible for that either. Even if you had those contributions, you would have fallen outside the qualification window – 60 months since your most recent paid PRSI stamp. You refer to the UK system of voluntary national insurance but it, too, has rules and a limit on how far back you can go. So there is no, as you put it, 'relatively straightforward' way you can set myself up for an Irish State pension. Could you set up a limited company here as a vehicle to allow you to pay contributions? To be honest, I'm not across company law sufficiently to answer one way or the other, but one thought comes to mind – why bother? There are costs involved in setting up and running a limited company even if it were possible. More pertinently, your life now is in the UK. You have spent your entire adult working life since graduation in the UK, it is your home and, by your own admission, you have no real intention to return to Ireland. [ Am I too late to apply to boost my UK pension? Opens in new window ] If you were eligible for a State contributory pension, it could be paid to you in the UK but it seems to me that you would be far better to invest in a private pension in the UK, availing of the tax relief available and with more control over its investment priorities. You are currently 45 with the possibility/ likelihood of 20+ years left in your working life. As I understand it, you can get tax relief at 20 per cent on any money you invest over there in a private pension and a 25-year investment window is more than enough to deliver a strong return. I am conscious there was a lot of talk recently about Irish residents who had worked in the UK for a time beefing up their UK national insurance record to qualify for or increase a future UK state pensions but that was different for two reasons. First, the qualifying criteria were lower under a special amnesty arrangement and second the cost of purchasing that extra entitlement was attractive for many people. Please send your queries to Dominic Coyle, Q&A, The Irish Times, 24-28 Tara Street, Dublin 2, or by email to , with a contact phone number. This column is a reader service and is not intended to replace professional advice
Yahoo
09-06-2025
- Business
- Yahoo
Employee Benefits in Ireland 2025: Comprehensive Study Highlights Key State and Private Benefits for Irish Workers
Discover comprehensive insights into Ireland's employee benefits landscape, including state, compulsory, and private benefits. Analyze the intricate social security framework, key regulatory acts, and the role of central institutions. Enhance strategic decisions with detailed regional benefits and market insights. Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "Employee Benefits in Ireland 2025" report has been added to report provides in-depth industry analysis, information, and insights of the employee benefits in Ireland, including an overview of the state and compulsory benefits in Ireland, detailed information about the private benefits in Ireland, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Irish social security system covers company employees, self-employed individuals, the unemployed, people with less than minimum resources, and dependent family members of deceased employees. The Irish social welfare system is divided into social insurance payments, means-tested payments, and universal payments. The payment of social insurance is mandatory; both employers and employees must contribute Pay-Related Social Insurance (PRSI) contributions to the Social Insurance Fund. Self-employed persons pay Class S social insurance contributions directly to the Revenue Commissioners, although these are not required to be paid after the age of 66. A range of state benefits is available for Irish residents, which are subject to several conditions other than social insurance contribution requirements. Companies across the country also provide customized private benefits to their employees as a supplement to state Highlights The Minimum Notice and Terms of Employment Act 1973, the Organization of Working Time Act 1997, the Payment of Wages Act 1991, and the Maternity Protection Act 1994 are responsible for the functioning of the overall social security system. A person's national insurance contribution is determined based on their income. An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to a credited contribution. Employers offer voluntary retirement benefits via voluntary occupational DC pension plans, which are prevalent in the country, such as Personal Retirement Savings Accounts (PRSAs), Retirement Annuity Contracts (RACs), Approved Retirement Funds (ARFs), and Personal Retirement Bonds (PRBs). This report provides a detailed analysis of employee benefits in Ireland: It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment benefits, long-term care benefits, minimum resource benefits, leaves and holidays, and private benefits It highlights the economic and regulatory situations relating to employee benefits in Ireland Reasons to Buy Make strategic decisions using in-depth information related to employee benefits in the country Assess employee benefits of the market, including state and compulsory benefits and private benefits Gain insights into the key employee benefit schemes offered by private employers in the country Gain insights into key organizations governing employee benefits market, and their impact on companies Key Topics Covered: 1. Executive Summary2. Introduction3. Country Statistics4. Overview of Employee Benefits in Ireland5. Regulations6. State and Compulsory Benefits6.1 Retirement Benefits Introduction Eligibility Benefits Payment options Contribution 6.2 Death in Service Introduction Eligibility Benefits Payment options Contribution 6.3 Long-Term Disability Benefits Introduction Eligibility Benefits Payment options Contribution 6.4 Short-Term Sickness Benefits Introduction Eligibility Benefits Payment options Contribution 6.5 Medical Benefits Introduction Eligibility Benefits Payment options Contribution 6.6 Workers' Compensation insurance Introduction Eligibility Benefits Payment options Contribution 6.7 Maternity and Paternity Benefits Introduction Eligibility Benefits Payment options Contribution 6.8 Other Benefits Family Benefits Unemployment benefits Long-Term Care Benefits Minimum Resources Benefits Leaves and Holidays 7. Private Benefits7.1 Retirement Benefits7.2 Death Benefits7.3 Disability Benefits7.4 Medical Benefits7.5 Accidental Death and Dismemberment Benefits7.6 Other Benefits For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
