Trivial pension and early retirement on a PRB

L

Lindam

Registered User
Messages
2
Hi,

I currently hold a pension on a PRB (buy out bond) with Irish Life.
The value of the pension is less than 25k and I am thinking about cashing it fully when I turn 50 years old as a "trivial pension".


I have read a lot of posts on this forum and advices on the web and it's seems quite confusing on how to proceed and if it's even feasible to cash the full amount (25% lump sum + residual value in cash)?

I have contacted few financial advisors who are well willing to charge around 500 Euro just to give simple advices on the matter, while others told me that for just cashing a trivial pension, a financial advisor shouldn't be necessary.

Thank you for any help, comments on the subject and advices about how to proceed.
 
If you want someone to do it for you, they have to charge you. As they are giving advice on a regulated product, they have to set up a file for you before giving you advice. When you are paying for someone's time and advice, it is going to cost you.

Trivial pensions has been increased to €30,000 (after lump sum) by the Revenue. You can avail of that. Deal with Irish Life directly and they will send you the forms. Fill them out and send them back.

(you can give my €500 fee to charity ;))


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
Fair enough, thank you, I was more worried about unexpected fees and charges and how to proceed.

Thank you for the advice,
 
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