3 Pensions...best way to combine

J

Jane1

Registered User
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Hi,
I have moved jobs three times in the last 5 years. I have 3 seperate pensions with approx. 6000 euro in total. I am unemployed at the moment. What are my best options to combine all three? Tks.
 
You need to give more information what kind of pensions they are, please.
I also have three pensions, and unfortunately I found out that it is better to freeze them all and start a fourth one. So much about the initially advertised "flexibility". Maybe in your case it is different. It is not necessarily a disadvantage to have them in different funds.

Fanny
 
Hi Jane

If you leave a company pension scheme with less than two years of service in the scheme (which I presume you did, given that it is three jobs in five years) - then you are entitled to a refund of contributions.

However, that would involve forfeiting your right to employer's contribution paid for you.

Depending on the background to the funds...I presume they are all company pension schemes?...you should be able to transfer each of them into a single PRSA.

You may prefer this because you would then have one single pension to encompass all three of your former pensions.

However, you should factor in costs of moving from the three company schemes to one single PRSA (or buy-out bond) before making any decision.
 
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