Pension with Irish Life should I get a lump sum now they are being sold off?

I have a pension with Irish Life and was thinking of taking a lump sum now as I am in arrears with my mortgage. This will obviously affect my long term pension but that is 13 years away. Should I still go for this as Irish Life is selling it's pension company?

The proposed re-listing of Irish Life as a stand-alone entity on the Dublin and London stockmarkets should have no effect on policyholders. It will affect those who own shares in Irish Life & Permanent plc, but not policyholders.

You may or may not be able to take a lump sum from your pension fund now while leaving the balance until you retire later. Check with your adviser or Irish Life. This can be done if you have a PRSA but not other pension types. If you don't have a PRSA, check to see if your fund can be transferred into a PRSA to facilitate this.

Irish Life have said that there is no affect on policy holders as a result of a change in ownership of the business. They are keeping their website up to date with some pretty good info too which is good to see.

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