SSAS winding up, looking to move and mitigate risk of future government levy

[tandcapply]

Hi, I Own a limited company.
My SSAS is to be shut down soon and I am looking at options as have circa 10 years to retirement and want to see if one of the options: buy out bond, PRSA or even a foreign pension is more likely to be excluded/out of reach of any future Government levies like the one in 2011.

 

[GSheehy]

Maybe include more information about what assets the current pension holds, if you're looking for another SSAS, and what costs you're paying and someone might be able to give you an opinion. As for trying to avoid something that might never happen via transfer abroad, I'd say the cumulative costs of doing that might be a significant deterrent to any potential levy.


Gerard

www.prsa.ie

 

[Dave Vanian]

There's no current plans to introduce a pensions levy. Will there be one in the future? Who knows? It would depend on economic circumstances at the time. It would be decided by the government of the time and we don't even know who that might be. So asking for details like what pension products might be affected by a future pension levy that isn't even planned at this time is taking speculation to the extreme.

The previous pensions levy took in all Irish pension products except ARFs and public sector pensions. It didn't affect foreign pension funds.

Sinn Fein have spoken about reducing the Standard Fund Threshold from €2 million.

I would make my decisions based on facts available right now, rather than trying to predict what some unknown future government might decide.

 

[tandcapply]

Thanks @Dave Vanian, I was asking about possible mitigation now as I didn't see this being discussed in recent threads.
As Iorps II is forcing a move away from my SSAS and presumably for many others, for the first time, I thought now is the time to ask.
I wanted to add this to my list of pros/cons of new pension, even if none will. I also intend on moving to another (TBD) EU country within the next 10years
I Appreciate the info about what was affected last time.