Access to PRSA by Company Director Retiring Early

[Investor]

Can a company director with a PRSA who retires early (not owing to ill health) and severs all relations to their company access their PRSA after the age of 50 but before the age of 60? (I understand the rules about having to transfer a certain amount to an AMRF in the absence of a guaranteed minimum income etc., but I’ve come across some conflicting information about early retirement rules online.)

 

[GSheehy]

Irish Life say:

Early retirement from age 50 is available from a PRSA where the employee

• Has retired from schedule E employment, and

• Is not working anywhere else as an employee, or in a self-employed capacity.

Zurich Life say:

Access

Between 50 – 60 where employment has ended and member is no longer economically active (retired from all employments). Age 60 otherwise.


Gerard

www.prsa.ie

 

[Steven Barrett]

As Ger has said, if they have retired, yes. The AMRF is no longer in force.


Steven
www.bluewaterfp.ie