Small amount of money - buy HSE service or Irish Life PRB?

tommygirl

Registered User
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I would appreciate some advise.
I have money from a previous pension scheme (under 2K) that has to be moved. If I transfer it to the HSE pension fund it will buy approx 40 days service or I can put it into an Irish life Consensus Lifestyle PRB. If it makes any difference I will not have anything like full service by retirement age - 30 years at a push.
I would be inclined to think that I would be better off putting it into the HSE pension but who knows what changes will be made to this pension by the time I retire.
Thanking You
Tommygirl
 
The single most important part of a pension to fund is the (currently tax-free) lump sum.

If you have no other pension apart from your current scheme you could be as much as 30/80's of final salary short on retirement from maximising the amount you can take tax-free. Make sure to fund that first. So keeping it in a personal scheme is by far your best option for now.
 
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