# moved abroad...can i cash in my pension?



## evelyn77 (8 Feb 2012)

hi, i had worked in Ireland from 2002-2011 with health board and as far as i understand i have pension paid into few different funds- HSE superannuation,VHSS (Voluntary Hospital Superannuation Schemes) etc . Also paying PRSA class A1(if that's relevant). Am i correct in assuming HSE superannuation/VHSS are private fund?

I have moved to Australia for 6 months now and seems quite unlikely to return to Ireland. i understand that if you leave Australia you can cash in the superannuation. Does same apply to Ireland, or in particular my type of pension? if not, can i transfer my fund over here?

If i don't do anything to the fund, i assume it'll just sit & grow?(hopefully)and i can withdraw at retirement age?
Am i correct in saying that private pension is different from state pension where you don't have to contribute for certain number of years before you can claim?

Many thanks.


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## LDFerguson (9 Feb 2012)

By the sound of it, all your years in several superannuation schemes can be tidied up so that you'd be credited with nine years' service.  

You can't cash in a public sector superannuation because there's no cash!  Putting it another way, the public sector schemes don't have a fund - public sector pensions are paid out from current exchequer funds - the taxes being collected today pay the pensions of retired public servants today.  (With life expectancy increasing and Government funds under such huge pressure already, there's a demographic timebomb ticking away, but that's another day's work.)  

So what you have is a promise of a lump sum and a pension at retirement age.  It will be based on nine years' service.  You can enquire now what it's going to be.  As there's no fund, then there's no fluctuations due to rises or falls in fund value.  The only question is - will the Government be able to honour its promise to you in the future?


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## gipimann (9 Feb 2012)

You may be able to combine your PRSI contributions with social security contributions you're making in Australia to make up pension years.   There's more information here:

http://www.welfare.ie/EN/Publications/SW87/Pages/1WhatisthepurposeoftheAgreement.aspx


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