M
Marathon Man
Guest
Along with several hundred others, I was laid off when IFI went into liquidation, last November.
I recently got details of our options. Apparently there are 4 choices:
1 Take a (reduced) pension now (over 50's only)
2 Transfer the fund into a new employers pension
3 Transfer into a PRSA (Providing one has less than 15 years service)
4 Take out a Personal retirement Bond (PRB)
Questions:
A) Why do the Irish Pensions Board not allow people in my situation to transfer the fund into a PRSA? Surely that was one of the intentions of the PRSA?
B) Wghat are the advantages (??!!) and pitfalls of PRBs?
I am currently contracting (self employed - limited Co.)
I have to decide what I'm doing before Sept 1st., or the Trustees of the scheme will decide for me.
Any help/advice appreciated. Thanks in advance.
I recently got details of our options. Apparently there are 4 choices:
1 Take a (reduced) pension now (over 50's only)
2 Transfer the fund into a new employers pension
3 Transfer into a PRSA (Providing one has less than 15 years service)
4 Take out a Personal retirement Bond (PRB)
Questions:
A) Why do the Irish Pensions Board not allow people in my situation to transfer the fund into a PRSA? Surely that was one of the intentions of the PRSA?
B) Wghat are the advantages (??!!) and pitfalls of PRBs?
I am currently contracting (self employed - limited Co.)
I have to decide what I'm doing before Sept 1st., or the Trustees of the scheme will decide for me.
Any help/advice appreciated. Thanks in advance.