I plan to retire from the public service in approx. 2 years time when I will be 62. I will have had approx 16 years actual service plus 2.5 years added "professional" years, if I'm calculating these years correctly.
I have the following Pension Plans in place. The approx. amounts listed below are from the latest annual statements I have received.
AVC = €50k
PRSA(Ark Life) = €11k (transfer value)
AIB Personal Pension.= 48k.
I have to pay back arrears of approx. 16€, as I was not contributing to my employers pension scheme when I was on a temporary contract.During this time I was contributing to the AIB Personal Pension instead.
Can I take 25% tax free from all 3 policies when I retire and let the remainder provide me with a pension provision? If so, what kind of yearly pension would I be entitled to based on the above figures, as an example?
Also is it possible or practical to consolidate all three into one policy?I do realise values may go up or down in the next few years.
Thanks in advance.
I have the following Pension Plans in place. The approx. amounts listed below are from the latest annual statements I have received.
AVC = €50k
PRSA(Ark Life) = €11k (transfer value)
AIB Personal Pension.= 48k.
I have to pay back arrears of approx. 16€, as I was not contributing to my employers pension scheme when I was on a temporary contract.During this time I was contributing to the AIB Personal Pension instead.
Can I take 25% tax free from all 3 policies when I retire and let the remainder provide me with a pension provision? If so, what kind of yearly pension would I be entitled to based on the above figures, as an example?
Also is it possible or practical to consolidate all three into one policy?I do realise values may go up or down in the next few years.
Thanks in advance.