€2,500 bonus transferring SSIA money to PRSA

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Yogi

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I read in yesterday's Sunday Business Post where there is a potential loophole in the bonus being offered to transfer part of one's SSIA to a PRSA. It seems that it is possible for some people to transfer €7,500 of their SSIA to a PRSA, receive a €2,500 bonus and withdraw from the PRSA right away.

The article in the SBP mentioned that the Revenue would come down heavy if it thought the institutions were promoting/exploiting this loophole - however I'm not sure whether the individual could be pursued by the Revenue if they did this?

Does anybody have any further info on this. I would be too young to avail of this, but it might come in handy for my parents as both have SSIA's maturing next year.

Yogi
 
Does anybody have any further info on this. I would be too young to avail of this, but it might come in handy for my parents as both have SSIA's maturing next year.

Discussed extensively elsewhere on AAM, most recently . Follow the links in that thread for more discussion.
 
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