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Can a PRSA be utilised to service a debt?

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  • 06-01-2012 3:05am
    #1
    patjack
    Registered Users Posts: 313 ✭✭


    Hi all, think I know the answer to this but can funds held in a PRSA, be used to pay a debt with a financial institution?
    Basically I have a loan which I cannot service currently, but I have money in a PRSA, it's over three years so I don't think I can withdraw my contributions, just wondering whether there is anyway in extenuating circumstances that the ownership of these funds can be transferred to the financial institution?????


Comments

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    #2
    Mort5000
    Registered Users Posts: 419 ✭✭Mort5000


    Generally 'no', but get in contact with your PRSA management company and ask.


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


    No. Unless the revenue give you a special dispensation, but im yet to see that happen im afraid.


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