# Can I buy an Irish Pension /annuity with lump sum



## porscheman (27 Dec 2009)

hello all

I am returning to Ireland from USa and want to buy an Irish Pension or more exact a EURO stream of income for life and I will have a lump sum to do so.

In the USA you can purchase an Annuity which as you may know is a lump sum per month for life ...eh www.immediateannuity.com.   as i wish to reside in ireland I would like a Euro income instead of a $ income ... may I use a cash lump sum in Ireland to purchase a life time income from an insurance company and I would also be most grateful for any recommendations in this regard.,
thank you. . .


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## Eithneangela (27 Dec 2009)

Sorry about this, but for God's sake, don't go with any Irish Financial Instution or broker who recommends one.  We're deeply carpeted in the brown stuff here mainly due to the wizards in the Financial Sector, so trouser your funds for the moment, put them into some very safe funds for the next five years at least until you get the measure of the market.  This is from one who has been burned very badly


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## Tentman (28 Dec 2009)

+1. You have a far better chance, at the moment at any rate, of having better returns from a US investment, even allowing for currency fluctuations. Only light on the Irish horizon is a new Govt Bond to be launched in the next 3/4 months. No details available yet.


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## DerKaiser (28 Dec 2009)

porscheman said:


> hello all
> 
> I am returning to Ireland from USa and want to buy an Irish Pension or more exact a EURO stream of income for life and I will have a lump sum to do so.
> 
> ...



Of course you can.  Try a discount broker for the best deal.

Many insurance companies based here are part of large international insurers e.g. Aviva, Standard Life and Zurich so there no concern about the security of your investment.  Typically the annuity will be backed by French or German government bonds.

The previous two posts do not make any sense other than that the posters are cheer leading some kind of eradication of financial services in this country, even where they are provided by well capitalised international players simply serving the irish market


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## Tentman (28 Dec 2009)

DerKaiser, I posted my opinion in good faith. Only a fool would invest in this fair land, given the present rate of return, IMHO. And my advice to anyone investing possbly their life savings is to research, research, research. And be extremely of investing with any Irish-based outfit.


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## DerKaiser (28 Dec 2009)

Tentman said:


> Only a fool would invest in this fair land, given the present rate of return, IMHO.



In the context of purchasing immediate annuites with insurance providers, could you explain what you mean by the 'present rate of return'?


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## Towger (28 Dec 2009)

Tentman said:


> Only a fool would invest in this fair land, given the present rate of return.


 
He does not want to invest in Irish companies, as he says he wants to buy an annuity. This is no different from what people do with any Irish private pension schemes when they retire.


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