Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

What to do with my pension?

  • 17-05-2013 9:37pm
    #1
    roadragedave
    Registered Users, Registered Users 2 Posts: 3 ✭


    Hi folks,

    I recently resigned my job of 8 years and moved to the States.

    I had a pension with my old company and I'm wondering what I should do with it. I'd like to see the value of it rise, but I'm also scared sh*tless that there could be more stock market crashes, or the value of the euro will plummet v the dollar.

    I'm here in the US for the long term, but there is always the possibility of returning to Ireland before I retire.

    I contacted the pension provider and they told me that I cannot move my pension contributions from Ireland to the US, which is fair enough I suppose, and that I have to wait until I'm 50 before I can draw it down (I'm in my early 30s so I'm a long way off).

    She did say that I could move it to a Personal Retirement Bond (PRB) or a Personal Retirement Savings Account (PRSA), or I could just leave it where it is.

    I know that the value of it is down from the total employee + employer contributions, so I imagine leaving it with the pensions provider is probably the only way that I can grow back.

    Any advice on the PRB or PRSA options? What is the safest most secure thing I can put it into that won't be gambled and won't likely be raided by banks or revenue?

    Cheers.


Comments

  • #2
    dave2pvd
    Registered Users, Registered Users 2 Posts: 1,511 ✭✭✭dave2pvd


    I think you're in the wrong forum.


  • #3
    Bren157
    Registered Users, Registered Users 2 Posts: 44 ✭Bren157


    Hi Roadragedave. If you have no guaranteed pension benefit at retirement from the fund, you should transfer it out of your employer and into your own name so you can have some control over the pension company, the fund and its ownership. Suggest you should talk to a qualified and independent financial advisor in Ireland before making a decision.


Advertisement