Canada Ireland Pension Agreement
If you are from a country with which Ireland has a bilateral social security agreement, your pension rights will be protected by the other country when you move to Ireland. It is possible to receive a pension from Ireland and any other country. You may be able to use your insurance documents from Ireland and the other country to obtain a state pension (assessment). Note: Agreements with Austria, Japan, New Zealand, Switzerland and the United Kingdom simply stipulate that the date of receipt of a debt in one country must be considered the date of receipt of the debt in the other country. Unlike other legal regimes that allow the transfer of pensions tax-exempt, Canada makes another decision and this type of transfer is not permitted unless the transfer takes place in the United States. Therefore, any pension transfer from Ireland is considered a distribution under Canadian tax law and is subject to withholding tax. A supplemental benefit called the Guaranteed Income Premium (GIS) is paid to OAS recipients living in Canada who have little or no income above the OAS benefit. GIS is payable outside Canada only 6 months after the month of departure from Canada. CPC workers can receive a full pension at age 65 or a reduced pension from the age of 60. Only one contribution (1 year of coverage) is required. It is the same as the CPC. An application must be made to the Canadian authorities to determine the rights available.
It should be noted that Quebec manages its own similar pension plan. Under the agreement, Canada will consider your U.S. social security loans acquired after 1951 and 18 years, as well as periods of stay in Canada after 1951 and 18 years, as the OAS residency requirements. However, to be entitled to have your U.S. credits counted, you must have been in Canada for at least one year after 1951 and 18 years. The first qualifying condition – entry into insurance before the age of 56 – must be met. However, it may be satisfied with Irish Social Security or Social Security (or residence) in a country of bilateral agreement: If you reside in Canada or New Zealand for a period of time, you may not be entitled to benefits or pension pensions covered by the agreement. The maximum pension rate is payable when a person has an “annual average” of at least 48. The annual average is the average number of contributions paid and/or credited per year during the 1953 period or from the beginning of insurable employment, albeit later until the end of the fiscal year before retirement age (66 years).