When I graduated from college I worked for a company from 2004-2007 and made pension contributions to their company fund for 2 and a half years. Today I received a letter from them informing me that the company is being wound up and I have been presented with a number of options for my pension money (roughly 5,000 Euro).
I'm not employed at the moment so I presume that just leaves options 2 and 3. I don't really know what these are. Can someone give an opinion on which might be better? Ideally I'd like to cash this money in now-is that possible?
1) A transfer to a similarly approved pension scheme with your new Employer
or
2) A transfer to a Personal Retirement Bond in your own name.
or
3) A transfer to a PRSA
I'm not employed at the moment so I presume that just leaves options 2 and 3. I don't really know what these are. Can someone give an opinion on which might be better? Ideally I'd like to cash this money in now-is that possible?