I was wondering if anybody has tranfered a UK pension over to Ireland (personal pension to personal pension in Ireland). My understanding is that it can be done. As long as it's post 1988. The life companies here seem to be trying to refuse it but I have it from the UK and Irish revenue that such transfers can take place. If anybody has any experience of this or knows and documented evidence to back me up would be much appreciated.
Yes I have seen these taking place - an insurance company might not want the hassle of organising it (there is a lot of paperwork in getting this done) so you may need to go through a broker.
I know, I'm a broker. Im trying to get it sorted out for the client but the life company has let it drag on for months. All evidence I can gather suggests it can but they still refuse to do it!!!!! There is hardly anythin for them to do except fill in one form. Then invest the money when I get it.......I'll keep trying!
Is there a Personal Pension already set up in Ireland?
What generally happens is, that the UK administrators send over a form for completion by the Irish administrators. The Irish administrators must also provide the UK with a copy of the QROPS approval letter which HMRC would have provided to the Irish Life office if they applied to get their Personal Pension Product approved by HMRC.
As far as I know, that's about it. It can be done.