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

Old UK work pension

  • 16-11-2023 10:42am
    #1
    hannah6173
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi all,

    I have a pension in the UK from when I worked for a bank years ago. I believe it is a defined benefit pension. I have turned 50 this year

    I am looking to transfer it to a pension fund in Ireland. Is it possible to access 25% tax free lump sum now before I transfer it or can I do this after the transfer. The retirement age on the policy is 60 but can I access it from aged 50?

    I am going to take financial advice before I transfer but just wanted an idea.

    Thanks!



Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,858 Mod ✭✭✭✭Henry Ford III


    To transfer it to Ireland it'll have to be encashed thus losing the defined benefits.

    Absolutely get appropriate professional advice here. A mistake could be very expensive



Advertisement