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If I emigrate - what becomes of my pension?

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  • 18-09-2011 4:17pm
    #1
    rosemalin
    Registered Users Posts: 39 ✭


    Hi
    Totally clueless so hope you can help.
    Years ago I went backpacking for a year, left my private sector job and got whatever meagre amount I'd paid into my pension back.
    I returned to Ireland and I've been working in the public sector for past 8 years & paying the obligatory amounts into pension. Just wondering if we emigrate (maybe or maybe not to return again) what will become of my pension??
    Many thanks,


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    #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,118 Mod ✭✭✭✭Jim2007


    It entirely depends on where you move to... and what the agreements are between Ireland and that country. You'd need a lot more details before you can get any firm answers.

    For instance in the case of the EU/Switzerland, you can usually transfer your pension to a similar pension in that country, but you have limited chances to cash it in.

    Jim


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    #3
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    I would imagine that you should keep your public sector pension in place even if you do emigrate. Its likely to provide you a far better benefit then you would ever get transfering it. When it comes to retirement they woud simply pay direct to you wherever you are.


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    #4
    rosemalin
    Registered Users Posts: 39 ✭rosemalin


    Thanks for those answers. We're looking into all the options open to us here and possibly away. Staying put is looking more likely at present.


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