Pension lump sum enquiry.

niallck

Registered User
Messages
23
I was contacted recently by my pension provider regarding a DB scheme which is being wound up. The company was one I worked with for 14 years. I eventually left them and joined a company for 18 years until I took a voluntary redundancy package 5 years ago. I waived any lump sum payment at retirement age, (3 years time). I would prefer to take the cash option from the wound up scheme, (its not a huge amount btw), instead of the other options, (transfer to PRSA, transfer to current pension scheme). I was wondering whether the decision to forego a tax free lump sum with my existing pension provider would disqualify any lump sum from the "old" provider?
 
I am almost sure that the lump sum your forgo is for the pension scheme connected to that employment and does not apply to any previous retained pension benefits that you are.

Steven
www.bluewaterfp.ie
 
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