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Lum sum on private pension

Zedyu · 2020-08-27 11:48:28

Hi all, I am 50 years of age and I have apply to New ireland Assurance to chash out my private pension early. I have got my options from them which beasicly is to take a lump sum tax free and remaining funds I can take as a chash lump sum but I have to pay USC and tax. Happy with that because the pot is not very big so no…

27-08-2020 11:48am

#1

Zedyu

Registered Users, Registered Users 2 Posts: 3 ✭

Join Date: March 2019

Posts: 2

Hi all,

I am 50 years of age and I have apply to New ireland Assurance to chash out my private pension early. I have got my options from them which beasicly is to take a lump sum tax free and remaining funds I can take as a chash lump sum but I have to pay USC and tax. Happy with that because the pot is not very big so no point for me to reinvest. Just need an answer how long it takes to get it sorted and how the usc and tax is calculated. Have applied a week ago. My broker said it's about 3-4 weeks. Is that right? Thanks all.

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Comments

#2 27-08-2020 1:59pm

Henry Ford III

Moderators, Business & Finance Moderators Posts: 17,861 Mod ✭✭✭✭

Join Date: January 2006

Posts: 17527

Your broker will have the inside track here.

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