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Emigrating, what to do with pension?

  • 06-02-2020 6:20pm
    #1
    SAM SO NITE
    Site Banned Posts: 221 ✭✭


    Leaving permanent employment in Ireland.

    Moving to Spain.

    New job has no pension.

    Don't envisage i'll be back to Ireland to live/work.

    What do I do with my pension in Ireland going forward?

    Only paid into it since 2017. Approx 38k in it


Comments

  • #2
    Johnny Sausage
    Closed Accounts Posts: 890 ✭✭✭Johnny Sausage


    Defer it or transfer it to a PRB,

    A PRSA may not be the best option as you'll need a certificate of benefit comparison for a fund that size


  • #3
    SAM SO NITE
    Site Banned Posts: 221 ✭✭SAM SO NITE


    Johnny Sausage wrote: »
    Defer it or transfer it to a PRB,

    A PRSA may not be the best option as you'll need a certificate of benefit comparison for a fund that size

    I am so out of my depth I don't even understand your reply.


  • #4
    Johnny Sausage
    Closed Accounts Posts: 890 ✭✭✭Johnny Sausage


    SAM SO NITE wrote: »
    I am so out of my depth I don't even understand your reply.

    if you havent left you current employement yet HR/Employee benefits contact may be able to advise you better


  • #5
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,612 Mod ✭✭✭✭Jim2007


    Johnny Sausage wrote: »
    Defer it or transfer it to a PRB,

    A PRSA may not be the best option as you'll need a certificate of benefit comparison for a fund that size

    The OP is heading for another EU country and as such has other options.


  • #6
    Johnny Sausage
    Closed Accounts Posts: 890 ✭✭✭Johnny Sausage


    Jim2007 wrote: »
    The OP is heading for another EU country and as such has other options.

    are you going to tell them what they are ?


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  • #7
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,612 Mod ✭✭✭✭Jim2007


    SAM SO NITE wrote: »
    Leaving permanent employment in Ireland.

    Moving to Spain.

    New job has no pension.

    Don't envisage i'll be back to Ireland to live/work.

    What do I do with my pension in Ireland going forward?

    Only paid into it since 2017. Approx 38k in it

    Since you are moving within the EU from one country that does not operate a second pillar system to another that does not operate a second pillar system, in accordance with EU directives, you should be able to transfer the funds, less fees to a Spanish fund if you wish. Which given your intentions not to return to Ireland may be the best options.

    I'd suggest you ask this question on one of the Spanish expat forums where no doubt there will be people with experience in this area. And take it from there.


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