by molls » Wed Nov 22, 2017 11:42 am
Public sector is still a defined benefit pension scheme, though the pension is now based on average earnings and workers pay more towards it. However, in calculating the pension entitlement, the value of the state pension is taken into account so if your HSE pension wouldn't be much more than the state pension, you'd probably be better off in the private sector, paying the same amount into a pension fund and getting that payment plus the state pension.
Public sector is still a defined benefit pension scheme, though the pension is now based on average earnings and workers pay more towards it. However, in calculating the pension entitlement, the value of the state pension is taken into account so if your HSE pension wouldn't be much more than the state pension, you'd probably be better off in the private sector, paying the same amount into a pension fund and getting that payment plus the state pension.