I worked in Dublin 2012-2014 and contributed to an Employer Group Defined Contribution plan. In 2014 I moved to the UK where I contributed to a new employers Group Defined Contribution plan. I am 60 this year and would like to consolidate my Irish DC balance to my UK DC administered plan for convenience. I checked the HMRC website and the Irish plan is listed as a QROPS. Both HMRC and Irish Revenue allow 25% tax free lump sum so it appears to be a level playing field.
I have completed the Irish Revenue Overseas Transfer Declaration and provided it to the Irish administrator. They have now come back and stated that there is a chance that Irish Revenue will reject the transfer as I have passed the Normal Retirement Date; I am 60. They said that they cannot provide further clarification on this point as each case is reviewed and considered on it's own merit. This sounds very arbitrary, any thoughts or experiences to share?
I have completed the Irish Revenue Overseas Transfer Declaration and provided it to the Irish administrator. They have now come back and stated that there is a chance that Irish Revenue will reject the transfer as I have passed the Normal Retirement Date; I am 60. They said that they cannot provide further clarification on this point as each case is reviewed and considered on it's own merit. This sounds very arbitrary, any thoughts or experiences to share?