Does it make sense to cash an old pension at 50 and contribute the funds to a new pension?

[Dr Strangelove]

I think you're saying you doubt they'll introduce restrictions

Correct.

I think the fact the USC+PRSI cant be recycled means it’s not so advantageous. Not sure this is the case in the UK.

. (It's a bit surprising our age has stayed at 50)

I agree. It kind of defeats the spirit of the tax advantage of having to lock it away for a long time.

I think in principle the 25% TFLS is too generous and above most retirees’ needs. I always assumed it was mainly there to ensure equal treatment with public service arrangements which give a big tax-free lump sum on retirement.