Waive Pension Scheme TFC on Redundancy

[1dave123]

Hi – If u take redundancy and waive your entitlement to a Tax free cash lump sum as part of your redundancy settlement I know that this waiver does not travel if u take out a PRSA with those funds (i.e the previous waiver is ignored when u retire the PRSA). Is it the same if u transfer to a BOB and then subsequently retire from that BOB? Thk u.

 

[LDFerguson]

Is it the same if u transfer to a BOB and then subsequently retire from that BOB?

No. A BOB follows the rules of the original pension scheme, including any waiver.

 

[1dave123]

No. A BOB follows the rules of the original pension scheme, including any waiver.

@LDFerguson Thank u