EU/US Pension?

F

futureexpat

Registered User
Messages
3
Hi folks,

So my situation is I am married to an American and given I work in Tech, I can easily find work both the US and the EU (more specifically, Ireland, where we currently live).

My income has all but doubled in the last 3 years, and my excuses regarding starting a pension have entirely run out. What I am wondering however is, given my probable time living both there and here, is there any company that can offer me a pension that they can shift between their own EU/US subsideries, and allow me to fund it regardless of where I am? Failing that perhaps a company that partners with a US company in such a fashion to allow me to avoid the costs associated with transfering my lump sum each time?

Finally... am I totally overthinking it above, and this is all way simpler than I think? I'm hoping it's that one!

Thanks in advance for any and all advise. Google has let me down somewhat.
 
You can't transfer pensions from the US to a pension structure in Ireland. If you move to the US and have a 401(k) plan, you will not be allowed to transfer it back to Ireland. From what I know, you cannot transfer benefits from Ireland to the US either.

Google has let you down because what you are looking for does not exist due to tax laws not allowing it.


Steven
www.bluewaterfp.ie
 
Thanks Steven,

So is the the case that pensions simply aren't right for my wife and I, and we should just concentrate on personal savings and investments?
 
You need to plan things. As your wife is a US citizen and has to submit annual tax returns to the IRS, she also needs to ensure that her savings and investments are in the correct structure too. The US don't do "gross roll up", so any typical fund investments in Ireland get taxed in the US each year and you can't offset any tax paid in the US against the 41% tax on profits in Ireland.

Steven
www.bluewaterfp.ie
 
You must log in or register to reply here.
Back
Top