Changing Employment - what to do with DC Pension?

[lastbuilders]

Hi All,

I am changing employment from a semi-state to the private sector because of a relocation. I am 30 and have been making 5% contributions of my salary to a DC pension for 3 years. The company have contributed about 8% to this and the fund is about 15000 euros at the moment.

The company I am joining do not have a pension scheme. I would like to continue contributing to a pension scheme. Can anyone provide any advise as to what to do regarding the pension?

Lastbuilders

 

[Guest126]

Hi there - you could set up a PRSA or a personal pension, if the new company does not have a pension scheme.

You could ask your new employer to contribute to your PRSA?

You probably would not be able to transfer your company pension to a PRSA (because your fund > €10,000)...you could leave it sit there or transfer it to a Buy-Out Bond (but you could not contribute any more to that, it could just accommodate the transfer from your company pension).