Circular 4/2006: Purchase of Notional Service for Superannuation Purposes

Purchase of Notional Years Info

1.  Am I eligible to buy notional years?

Pension scheme members are eligible to buy notional years - subject to certain conditions.

2. How do I purchase notional years of service?

Contact the Pensions & Investments Office to find out:

  • How many years service you will have at age 60/65
  • How many notional years you will be permitted to buy
  • The cost of the notional years

The Pensions & Investments office will prepare a costing of the purchase of notional years and send it to you.

You must notify the pensions office in writing pensions@nuigalway.ie of your intention to buy notional years and the amount you would like to buy within the permitted limit.

3. Is there a good time to purchase notional years?  

 Contribution rates for monthly deduction contributions begin on your next birthday and end on your 60th or 65th  birthday.

Contribution rates for lump sum payments – such payments may be made at any time, subject to one such purchase per annum.

Unpaid contributions for a period during a purchase agreement can be made good by way of lump sum or by doubling-up on periodic contributions for an equivalent period.

4. Is there a maximum amount of years I can buy?  

Max service that can be purchased is the lesser of:

(a) the amount specified in the table below or

(b) the result of the formula 40-A-B, where A = Potential service and B = the service value of any retained benefits.

Purchase of notional service may be made to give 40 years maximum service at age 60 or 65 for members who have a minimum retirement age of 60 or at age 65 for “New Entrants” (who joined the public service after 1 April 2004) who have a minimum retirement age of 65 (see table below).

5. What happens if I am a Job Sharer/Part Time worker?

Job sharers/part-time workers may buy service to give 40 full-time equivalent years at either 60 or 65 (subject to the limit set out above).  

Service (including transferred service but excluding purchased service and notional added service) which the officer would have if s/he remains in service until age 65

Maximum Service which can be purchased

20 Years or more

Difference between 40 years and reckonable service by Age 65

19 Years

17 years

18 Years

15 years

17 Years

13 years

16 Years

11 years

15 Years

9 years

14 Years

7 years

13 Years

5 years

12 Years

4 years

11 Years

3 years

10 Years

2 years

9 Years

1 years