Occupational pension funds in the EU benefit from the principles of free movement of capital and free provision of services. This means, for example, that:
This freedom is counterbalanced by rigorous prudential standards, ensuring that pension fund members and beneficiaries are properly protected.
- pension funds can manage occupational pension schemes for companies established in another EU country
- pan-European companies can have a single pension fund for all their subsidiaries throughout Europe
Bumping to see if Anyone on Aam has done this ?
My friend has done it and lives in Portugal. He had 3 year period during which Revenue taxed him at Irish rates but as he was/is resident in Portugal, he is now tax free in Portugal for 7 more years. He was private sector, private pension holder.
You cannot withdraw money from an ARF tax-free unfortunately.
yes very unfair. Wonder could you move arf over there or elsewhere or not possible?
ARF distributions are subject to PAYE. However Revenue to date provided tax refunds to non resident ARF holders who could demonstrate that the ARF distribution had been taxed in their country of residence.
Revenue will not provide any further tax refunds on this basis to non residents post 22nd December 2017; instead the QFM will have to split the distribution between income, gains and capital, and for income and gains, identify when they arose to the ARF.
Each item of income and gains in the ARF distribution will be taxable only in the State with taxing rights over income and gains under the respective Double Taxation Agreement. In most cases this will be their country of residence and so the individual may be able to reclaim the Irish PAYE levied on that part of the distribution. The capital part of the ARF distribution will always be liable to Irish PAYE, it seems, with no prospect of a refund.
How this will all work out in practice is not yet known. We have to wait for further clarity from Revenue.
Only seen transfers done pre retirement
interesting so Sean it can be done pre retirement ? from a dc scheme?
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