Hi Folks,
I am in my late 30's and have a Zurich buy-out bond from a previous employment that according to the latest statement is worth approx €13k.
I also have a PRSA with my current employer and this is currently worth approx €37k.
I am thinking of cashing in the buy-out bond as I am hoping to build a new house next year and if I could tax efficiently get money from the buy-out bond then I'd do that as it would mean I would have to borrow less money for the house.
I no very little about pensions so I am wondering what are my options? Can I cash in the buy-out bond? If I try and withdraw the money will I pay a lot of tax?
Thanks in advance
I am in my late 30's and have a Zurich buy-out bond from a previous employment that according to the latest statement is worth approx €13k.
I also have a PRSA with my current employer and this is currently worth approx €37k.
I am thinking of cashing in the buy-out bond as I am hoping to build a new house next year and if I could tax efficiently get money from the buy-out bond then I'd do that as it would mean I would have to borrow less money for the house.
I no very little about pensions so I am wondering what are my options? Can I cash in the buy-out bond? If I try and withdraw the money will I pay a lot of tax?
Thanks in advance