Pension After Redundancy

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Bilzer19

Registered User
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The comapny I worked with went into liquidation and consequently I was made redundant.

I was paying into a defined contribution scheme and have recieved correspondence from the provider outlining a number of options as follows:

1. A deferred pension payable from age 65
2. A transfer to Personal Retirement Bond
3. A transfer to a PRSA
4. Transder to a similar approved scheme with a new employer

As I am still unemployed Optiont No. 4 option is not really an option for now.

As I know nothing about the above can anyone tell me the best option to take and also is there an option of maybe transfering the entire value to another provider with possibly lower charges.
 
You really need to speak to a pensions advisor about this, you can ask your employer to set up a meeting but there may be a charge for this, if there is I would get someone else to advise you. What I would say is ask your Mum/Dad/brother/sister/friend for a recommendation for who they use for there pension and life business.

This is a complex area and you do need proper and sound pension benefit's advice as this will determin who much tax free cash you can extract out of your pension fund either at age 50 or 60 or NRA
 
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