Great - it is with BOI. Nightmare, I wonder can I transfer it to something else? Will go in and see them.
Great - it is with BOI. Nightmare, I wonder can I transfer it to something else? Will go in and see them.
Thanks for the replies
I know with job related pensions (i.e. pensions I have had, which were organised through work with whichever broker that company happened to work with) you can only get them back (less a fair whack of tax obviously) if you have paid into them for less than two years. Not sure if the same rules apply to a pension you have organised privately but it seems likely. It should be covered somewhere in the paperwork you have probably.
You can transfer to a Personal Pension but they don't allow retirement until age 60, so no benefit there.
The only exception to the above rule is if you are taking early retirement due to ill-health, which must be proven to Revenue. You'd need to be medically signed off as being unlikely to ever work again.
Hi Liam, transfers to personal pension from a PRSA are not allowed - only transfers from a personal pension to a PRSA.
Can you retire aged over 50 and defer taking your occupational pension until normal retirement age but access your PRSA in the intervening period?Regardless of who your PRSA is with, the earliest you can access any money from it is age 50, and only then if you are taking early retirement from PAYE employment.
Can you retire aged over 50 and defer taking your occupational pension until normal retirement age but access your PRSA in the intervening period?
That's what I thought. I fail to see the policy behind it.Benefits from an AVC PRSA must be taken at the same time as the main scheme benefits
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