transfer of pension to other country..is it possible?

F

featherss

Guest
Hello,

I'm an Indian working in Ireland and have been contributing to company pension scheme for past one year. Would I be able to transfer these funds to India when I finish my job contract here? Or would it be better to reclaim my contribution as cash (I would loose tax + employer contribution in that case)?

Any advise would be much appreciated.

Thanks

Feathers
 
I asked the same question regarding transferring a pension to Australia. It is possible to Australia i was informed however revenue needs to recognise the overseas pension fund.

these guys could advise, they send payments overseas, theyre on google
[broken link removed]
 
The Indian system is similar to the irish/UK system so you should be able to transfer. I think the test is if the benefits are broadly similar i.e. you can only get the funds on retirement in the form of a pension or lump sum. You will need to set up a pension when you return home, either via your employer or your own policy, into which you can ask for the pension be transferred.

In most schemes you will need more than 2 years service to avail of the employer contribution. If you have less than 2 years instead of taking a refund and paying a tax of 20%, you are entitled to transfer your employee/AVC to a Personal Retirement Bond or PRSA and avoid the 20% tax on refunds.
 
Thanks very much Mooney and Westbound for your valuable inputs.
Mooney, that link was of great help as well. However, they advised that transfer possibilities would depend on the company operating the scheme.

Featherss
 
westbound sounds like he knows what he's talking about. Its as much to do with the scheme as anything else.

TM looked into it for me, maybe ask
 
Pension transfer to India now possible with ING

Hi,

I am an official agent for ING Bank in India, i live in Ireland and could help you to transfer your pension funds from Ireland or UK to India,Please contact me for more information.
 
pension transfer to India

View this blog for more information:

pensiontransferstoindia.blogspot.com
 
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