I paid into a pension fund in Ireland for 2 years 7 months, I recently took up a new job in the UK and the Irish pension scheme is not QROPS approved, so I cannot transfer my contributions over.
As it stands, I have circa €8,000 tied up in the Irish scheme, so circa €4,000 would be from my contributions.
I was advised by the Irish scheme that if I don't do anything with it, it will be whittled away through charges over the years.
What I'm wondering is, is it possible to transfer these funds into a QROPS approved scheme, where it can then be transferred to my current UK pension? If so, how do I even go about this?
Or, are there other options available? I have no problem investing it long term, just once I don't loose the amount over fees and charges like I would if I were to leave it.
As it stands, I have circa €8,000 tied up in the Irish scheme, so circa €4,000 would be from my contributions.
I was advised by the Irish scheme that if I don't do anything with it, it will be whittled away through charges over the years.
What I'm wondering is, is it possible to transfer these funds into a QROPS approved scheme, where it can then be transferred to my current UK pension? If so, how do I even go about this?
Or, are there other options available? I have no problem investing it long term, just once I don't loose the amount over fees and charges like I would if I were to leave it.