What to do with pension plan from previous employer

[ledger]

Just looking for some advice regarding a pension plan that was taken out while working in the UK. The individual (family member) is back working in Ireland and has £10k approx paid into the fund. This includes his employer contributions.
The options given by the provider included leaving it and converting to an Individual Personal Pension or transferring benefits to another provider.
Bear in mind that this person is currently house hunting and any cash value would be obviously useful. He is also VERY skeptical of financial institutions and would rather buy gold and stick it in a safety deposit box rather than risk losing it to some shower of ****(his words, not mine )
Any advice would be much appreciated.

 

[Alan Considine]

I brought back some funds from UK for a client last year just be careful to go with an Irish Pension Provider that has a QROPS approved contract. What age is the client? I am nearly sure 55 is the youngest he can get the funds.

Alan Considine QFA
Gleeson Insurance Ennis

 

[ledger]

I brought back some funds from UK for a client last year just be careful to go with an Irish Pension Provider that has a QROPS approved contract. What age is the client? I am nearly sure 55 is the youngest he can get the funds.

Alan Considine QFA
Gleeson Insurance Ennis

Thanks Alan,
He is only 28, I'll get him to check the fine print re the age restrictions. What are his options if he can't get his hands on the cash ?

 

[Alan Considine]

He will have to put in a PRB - Personal Retirement Bond. Maybe wait for Sterling to get a little stronger from recent reaction to Brexit.

 

[ledger]

He will have to put in a PRB - Personal Retirement Bond. Maybe wait for Sterling to get a little stronger from recent reaction to Brexit.

Thanks for all the help Alan. He is due to start with a new employer soon so it might be best to wait to see what they offer pension wise. In the meantime sterling might improve. Thanks again