IL is combination of a PRSA and an Exec pension.Zurich Life is a Buy-Out Bond. Is Irish Life a Buy-Out Bond also? If so, same employment as Zurich Life BOB? If not, what type of product is Irish Life?
I think you can take 25% of the ZL BOB and 25% of the IL PRSA tax-free.
AAM at work - I read your response back to the agent on the helpline and she referred it higher - The answer that came back was that you are right Dave - Just need P45 from my last employer. Thanks very much for your expert knowledge.As Irish Life is a PRSA and it's not related to the same employment as the Zurich Life BOB, then there's no sharing of tax-free lump sums possible. That said, if you're currently retired from all employment, you can tell Irish Life that you want to take early retirement from your PRSA now. You cannot be penalised for taking early retirement on a PRSA.
Thanks for clarifying Dave. Is the lump sum option in that case based on final salary of the job related to the Zurich BOB (rather than a most recent job)?You can, or you can take a lump sum from the ZL BOB calculated based on salary and service. But that wasn't @Kev1964's question. He was asking if he could take less from Zurich now and make it up taking more from Irish Life later.
Thanks for clarifying Dave. Is the lump sum option in that case based on final salary of the job related to the Zurich BOB (rather than a most recent job)?
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