Do you have an Irish pension but are no longer resident?
Depending on what type of Irish pension you have and where you currently live in the world, you might be able to transfer your pension and combine it with others you have accumulated throughout your working life.
Also consider how frequently you review your Irish pension. We all check our investment and cash accounts on a regular basis. However, this is not the same with pensions. They are generally left and forgotten about until we near retirement age. It is extremely important that we treat all pensions as an investment and regularly review our contributions, holdings and performance. Doing so will enable you to plan for your retirement and potentially increase your pension value and future income.
WHY REVIEW YOUR IRISH PENSION?
If you have lived and worked in the Ireland and contributed to an Irish pension scheme, but now live elsewhere in the world. The chances are that your Irish pension has been forgotten about as many other matters are now a priority.
In most cases our client’s pension funds are substantial and make up a significant percentage of their overall wealth. For most individuals their Irish pension value is only second to their property. So ensure you know how your capital is invested and more importantly how much income it will generate for you when you retire.
WHAT WILL YOU FIND OUT ABOUT YOUR PENSION?
Whether or not you have a Final Salary or Money Purchase scheme, we are able to contact your providers and request very detailed information from them. We will establish the following;
- How your capital is invested
- At what age can you access your pension
- What your projected benefits at retirement are
- What are your spouses benefits upon your death
- Is your pension frozen and not growing
- Have you or are you close to exceeding the lifetime allowance
- What the charges are associated to your scheme
- How much tax you will pay when you draw upon your pension
POTENTIAL BENEFITS OF TRANSFERRING YOUR IRISH PENSION?
If you are a non UK resident and plan to either never return to the UK or remain offshore for a few years, there can be many benefits of reviewing and transferring your UK pension. These include the following;
- Choice of relevant currency such as GBP, CHF, USD
- Access your pension from 55
- Flexible income drawdown (No need to choose an annuity)
- Consolidation of multiple pension schemes in to one manageable policy
- Enhanced growth
- Take advantage of your Final Salary (Defined Benefit) transfer value
- Take control of your investment and manage your portfolio yourself
- Invest into investments that offer security and stable returns
- Reduce your tax liabilities and maximise your income post retirement
- Improved succession planning (reduced inheritance tax)
- Take advantage of regular reviews and ensure you are on track to achieve your future retirement goals
Also once you are aware of your pension benefits you can then start to put plans in place for your retirement. In most cases we have found there is usually a shortfall between someone’s current income and their projected income in retirement. So we have a number of solutions that allow you to bridge the gap between the two.
WHAT HAPPENS NEXT?
The process is very simple. All you need to do is complete our letter of authority which enables our team to liaise with your pension schemes and find out all of the information we need in order to carry out our complimentary pension review.
Once our review is complete we will schedule a meeting or MS Teams call with you to discuss your options. However, we are confident we will be able to enhance your assets with some of the key benefits listed above.
All you need to do is complete the form below and one of our trained team will contact you and talk you through the process and commence your review.
BOOK YOUR COMPLIMENTARY REVIEW
ALTERNATIVELY YOU CAN CALL OR EMAIL US
Reach us on +41 225 187 583
Email us on [email protected]