Hey guys,
I've been working in the Netherlands the last 4 years and decided to come back to Ireland temporarily for the quarantine. I received a letter from Irish Life saying that they are winding up my Self Invested Fund. I am currently shopping around for pension providers who offer self invested funds in Ireland.
Many of you are aware of DeGiro lows fees for personal use in Ireland. They also have pension accounts in the Netherlands with an annual fee of 0.2%. Like most things related to money in Ireland, the pension providers take a heft cut compared to their continental equivalents.
Am I allowed to move my pension fund to the Netherlands?
Has anyone any experience in moving theirs to a different EU country?
Far from being an expert here in this, but I know you are allowed Irish tax relief on pension contributions to overseas pensions but these are, IIRC, mostly limited to pensions created while you were tax-resident in that overseas country. Not the same as your request.
I imagine that you would face an immediate tax bill for the tax-foregone by the Irish Revenue - but this is only guesswork on my part. Irish Revenue is not in the business of effectivey subsidising eventual non-residents.
The guide aims to summarise the issues to consider in respect of International Pension transfers from Ireland in order to assist in the consideration of the various trade-offs . This document has been prepared for information and educational purposes only and should not be relied upon by any...
The Irish revenue will allow transfers to other jurisdictions if the pension scheme rules in that country are acceptable to the Irish Revenue. You then have to find out if the Dutch rules will allow transfers in from other jurisdictions. The easiest way to start is ask Irish Life if they will permit a transfer to The Netherlands. They will have enough technical expertise in there to give you an answer.
Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)