Can you transfer your pension?
It is quite common to have accumulated a number of pensions over your working life. There are many reasons why an individual may decide to transfer an existing pension to a new pension structure. The most common types of pension transfer we deal with are:
Transferring a Pension to Ireland from Overseas ?
Many people resident in Ireland have accumulated pension benefits in previous pension schemes with employers overseas, particularly in the UK.
It is possible in many instances to transfer the accumulated value of an overseas pension back to an Irish Pension Fund. The looming Brexit crisis is currently a trigger for many people resident in Ireland to consider a pension transfer from the UK. This can be facilitated via the Revenue approved QROPS Scheme (Qualified Residential Overseas Pension Scheme).
We have experience in arranging pension transfers from overseas and we can help you explore the best options available to you.
Transfer Pension To New Employer ?
It is not uncommon to have built up a pension fund with an old employer and to have left the pension fund in place when you moved employment.
It is possible to transfer this pension benefit / accumulated fund away from your previous employer to either your new employer pension scheme or into a pension in your own name.
There can be many benefits in transferring your pension from a previous employment:
✓ Greater investment control
✓ It breaks the link with the previous employer
✓ It may be possible to access the pension from age 50 in certain circumstances
We have experience in arranging pension transfers from a previous employment and we can help you explore the best options available to you.
Whatever your situation, Guardian Wealth can help you choose the right option. We have the skills and the team to provide expert retirement and pension planning advice. We can formulate a financial plan for you that achieves your personal and financial goals, and most importantly we can explain it to you in a clear and easy to understand manner.
What are your Defined Benefit Pension options?
Whilst Defined Benefit Pensions are still present in Ireland, many of these pension schemes are being slowly wound up due to the financial pressure it places on the companies involved.
If you are a member of a Defined Benefit Pension Scheme and you have been given the option of either accessing your benefits or transferring your benefits to another pension, we can help you make the correct decision.
Before you finalize your decision on which option to choose, you will need to understand the following:
✓ Is the current Defined Benefit Pension Scheme solvent?
✓ Should you access the pension now or later?
✓ Are there Annuity and Approved Retirement Fund (ARF) options available?
✓ Is a Personal Retirement Bond / Buy-out-Bond the correct option?
✓ Will any decision you make now impact your entitlement to a tax-free lump sum in later years?
✓ Will any decision you make now impact your spouse’s entitlement to a share of the pension in the event of your death?
We want to take the mystery out of retirement planning and give you a very clear understanding of what you need to do to make sure you achieve financial freedom in retirement
As a conservative investor with little understanding of the stock market, they created an investment portfolio for my Pension that allows for solid growth potential but also that shielded me from the excesses of stock market turmoil over recent years.