A few years ago I waived the right to a pension lump sum as part of a severance. This pension is now moved to a new scheme and I am not a deferred member of this scheme. I also moved several other pension pots to this scheme.
I understand that the waived amount is ringfenced. I can't see any reference to it when I view my pension but I can see the transfer in. I also understand that if I move the deferred pension to a PRSA it basically extinguishes the waiver, which could potentially be reinstated by a retrospective change to the law.
Is it possible to see if the waiver did actually follow the pension move to the now deferred scheme? Is this a question for the trustees?
Is it possible to just move the waiver impacted portion of the deferred pension to a PRSA or does the whole balance need to be moved? Can the pension fund identify the present value of the waived lump sum for this purpose?
Are there any disadvantages to moving a deferred pension fund to a PRSA, do the fees tend to be higher than an occupational pension or any other disadvantages?
The NPV of the lump sum amount at the time was relatively immaterial and was used to fund a house deposit on which we have earned tax free capital gains. Should I just leave well enough alone now and accept that I will just pay tax on that portion of the lump sum on retirement?
I understand that the waived amount is ringfenced. I can't see any reference to it when I view my pension but I can see the transfer in. I also understand that if I move the deferred pension to a PRSA it basically extinguishes the waiver, which could potentially be reinstated by a retrospective change to the law.
Is it possible to see if the waiver did actually follow the pension move to the now deferred scheme? Is this a question for the trustees?
Is it possible to just move the waiver impacted portion of the deferred pension to a PRSA or does the whole balance need to be moved? Can the pension fund identify the present value of the waived lump sum for this purpose?
Are there any disadvantages to moving a deferred pension fund to a PRSA, do the fees tend to be higher than an occupational pension or any other disadvantages?
The NPV of the lump sum amount at the time was relatively immaterial and was used to fund a house deposit on which we have earned tax free capital gains. Should I just leave well enough alone now and accept that I will just pay tax on that portion of the lump sum on retirement?