CPDStore Ireland

All accountants should become aware of the costs, benefits and issues for clients seeking advice on deferring claiming the State Pension at age 66.

Advice should be based on accurate calculations and potential unforeseen consequences.

In this session Brendan Casey will cover the following topics;

• The loss of years of pension payments for the years between age 66 and 69, including the payment for a Qualified Adult, may not justify or offset the potential increase in entitlement. 

• A deferred payment may substantially increase the eventual title and be a worthwhile investment.

• Continued payments of Voluntary Contributions while pension is deferred may be greatly beneficial. 

• Continued PRSI payments after age 66 for both the employee, self-employed person and the employer may have no effect on the deferred entitlement. 

• Clients with less that the minimum 520 weeks of PRSI paid at age 66 have an opportunity to qualify for a pension.

• Classes B, C or D public or civil servants have an opportunity to qualify for a partial State Pension Contributory

• Clients in receipt of a Survivors Contributory Pension will increase their title to a State Pension by additional PRSI payments.   

• Self-Employed clients born before 1963 will be excluded from the incentive if they defer claiming the State Pension at age 66.

By attending this presentation, you will become aware of the Pro's and Cons of pension deferment.

Course Level: Intermediate