Helping you assess the suitability and eligibility of transferring your United Kingdom or International pension to Ireland.
If you are an Irish resident, have ever worked in the UK or abroad and built up a pension plan, you are now able to bring your pension back to Ireland, giving you more control over how your pension is invested and paid to you.
Whether you want to understand the current value of this pension, establish if you should move it home or have taken the decision to do so, I’m here to help answer your questions, and make the transfer process as painless and stress-free as possible.
Taking a step by step process, I assist clients to
- assess if a transfer is allowable, tax efficient and in their best interests
- find a suitable Irish pension provider to accept the funds
- package and submit all the necessary documentation
The evaluation process involves the following stages:
- Financial Fact find – This helps to establish your current retirement benefits and also your UK or international benefits.
- Investigation and analysis – I undertake a detailed analysis to establish if transferring your pension to Ireland is right for you. This involves evaluating your UK/international pension, its value and current pension type. There are specific rules and criteria to consider when moving pensions back to Ireland.
- Irish pension provider – I identify a suitable Irish pension provider that is registered to receive the transferred pension funds into a Qualified Recognised Pension Scheme (QROPS), a pension scheme which can receive transferred pension funds tax free from UK and other international countries.
- Investment Strategy – I complete a detailed risk analysis to advise and recommend a suitable investment fund choice for you.
- Transfer paperwork and process – I can assist in identifying and completing the required documentation to both establish your new pension with the chosen Irish provider and also to request the transfer of funds from your UK or International provider.
The Potential Benefits Include:
Increased retirement income: You have potential to receive a higher level of income from your pensions through an actively controlled investment strategy that targets better fund performance.
100% paid to your family: You have peace of mind knowing that your family are protected, receiving all of the QROPS pension if anything happens to you.
Early access to your pension: You don’t have to wait until your normal retirement age as your QROPS pension fund allows you to start taking an income from 55 years of age.
Remove currency exchange rate changes: By moving your pension scheme to Ireland (in Euros), you remove the negative effect that currency exchange rate changes in Sterling could have on your monthly pension income in retirement.
Lower charges: You have potential to reduce the management charges of your pension schemes
Reduce taxes & charges: You have potential to completely mitigate all UK taxes on your pension.
Flexibility: Take control and enjoy the flexibility to choose how your pension is invested and paid to you.
Get the process moving, contact Gavin at [email protected] and see what option is right for you.