I have an investment in AXA financial that I will have to encash, as they are closing their business. See this thread for more details.
I will lose a very substantial amount in tax as a result of this encashment. I don't need this money for the foreseeable future, I am wondering about how I might avoid the tax hit.
I am currently employed, and have an occupational pension, I also have a Davy Select non standard PRSA. I intend to contribute up to the maximums to my pension.
So I was wondering, can I somehow transfer my Life Assurance Policy to a pension without incurring a tax event. Reading the [broken link removed] I don't see any reference to this case. But someone must have tried to do something like this before.
Anyone any experience with something like this?
The sum is fairly substantial, so financing a custom pension produce might not be out of the question.
I will lose a very substantial amount in tax as a result of this encashment. I don't need this money for the foreseeable future, I am wondering about how I might avoid the tax hit.
I am currently employed, and have an occupational pension, I also have a Davy Select non standard PRSA. I intend to contribute up to the maximums to my pension.
So I was wondering, can I somehow transfer my Life Assurance Policy to a pension without incurring a tax event. Reading the [broken link removed] I don't see any reference to this case. But someone must have tried to do something like this before.
Anyone any experience with something like this?
The sum is fairly substantial, so financing a custom pension produce might not be out of the question.