Access pension @50

[irishguy]

Is it possible to access a pension from an old employer @50 years old and keep working for my current employer. Also could I take the whole pension as a tax free lump sum if my combined pensions would allow me to stay within the 200k limit.

 

[AAAContributor]

Is it possible to access a pension from an old employer @50 years old and keep working for my current employer.

Yes, potentially.

Are you a deferred member of the old employer's occupational scheme or have you a Buy Out Bond from that employment?

could I take the whole pension as a tax free lump sum

Yes, potentially.

But, in order for anyone here to answer this, you'd need to provide details of your remuneration from the old employer, your service with that employer and the normal retirement age of the old employer's scheme.

The scheme's administrator will have this information on file and will be able to tell you if this is a possibility.

 

[GSheehy]

You'd want to have had a final salary of circa €135,000 with 20 years service to clear out the entire fund as tax free cash.

There are plans to push out the age 50 to 55 at some stage, but no rumors on it being anytime soon.