Where to find a home for a DC Withdrawal benfit option n

[mvron]

Left a company after just under 2 yrs service & now have to decide what to do with proceeds:
Deferred benefits - company always in a state of flux so a bit nervous about that
Refund: my contribution > 5K, employer contribution >10k, would lose employer contribution but refund would be useful to take down credit card debt in short-run, reckon not a good move long-run
Transfer - new employer won't accept, any ideas re Personal Retirement Bond or PRSA? Know very little re PRB but have heard that PRSA fees high.

Any advice gratefully received.

 

[LDFerguson]

Deferred benefits - company always in a state of flux so a bit nervous about that

Remember that the assets of the pension scheme are ring-fenced from the assets of the employer, so even if your former employer goes bust, your pension fund should be protected. Unless the pension company went bust.

Refund: my contribution > 5K, employer contribution >10k, would lose employer contribution but refund would be useful to take down credit card debt in short-run, reckon not a good move long-run

You reckon right - lose >€10,000 just to have access to >€5,000 now (which will be taxed)? Pay off the credit card elsewhere.

Transfer - new employer won't accept, any ideas re Personal Retirement Bond or PRSA? Know very little re PRB but have heard that PRSA fees high.

See this post.

 

[mvron]

Thank you so much LD - that really clarifies things. Have spent most of day going through threads here regarding this and have found it really helpful. Thanks again for taking the time to reply and for providing the link - will get moving on some decisions now with a clearer mind. MV