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Pension Transfers

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Advice On Pension Transfers

If you are made redundant or decide to switch jobs, you have three main options with your occupational pension scheme:

  • Leave your Pension where it is

  • Transfer your Pension to your new employer

  • Move your Pension into an account in your own name (Personal Retirement Bond / Buy-out Bond).

When leaving your employer you should receive what is known as a ‘Leaving Service Options letter’, or your ‘Pension Benefits Options Statement’. These statements will set out your pension options.

One of the options open to you is to move the accumulated funds in your Occupational Pension to a PRB (Personal Retirement Bond). A PRB provides you with full ownership and control.

A PRB may offer the following advantages:

  • Access a tax-free lump sum from your old pension once you have reached
    age 50
  • Reduce your annual fees
  • The entirety of your pension can be transferred on to your estate on death.
  • An enhanced or increased transfer value may also be offered.
  • If you have multiple pensions from several employments, it may also benefit you to consolidate them

Speak with to one of our Qualified Advisors as they will take into account your personal circumstances and advise you on what is the best option for you.

Speak To One Of Our Qualified Advisors Today
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Public Sector Pensions

We often meet with public sector employees who are not even sure which pension scheme they are in.

Often, employees could have breaks in service or received pension contribution refunds.

Visit our sister site MadeSimple.ie for expert information in Irish Public Sector Pensions

Visit our sister site MadeSimple.ie for expert information in Irish Public Sector Pensions

AVCs (Additional Voluntary Contributions)

(AVCs) are contributions that you can make in addition to your normal contributions to an occupational pension scheme in the public or private sector to increase your retirement benefits.

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