Interdepartmental Group Recommendations on Pensions

What they're done:

•2022 – Removed AMRF

•2022 – Changed Death in Service Rules (ARF)

•2022 – Removed 15 Year Rule (PRSA Transfer)

•2023 – PRSA – BIK Removal

•2024 – Whole of Life PRSA

•2024 – No new Personal Pension contracts approved

What they've yet to do:

●Pension Retirement Bond (PRB) and Personal Pension (PP) Removal (completely, for new business)

●Salary and Service + ARF Option

●Removal of Certificate of Benefits Comparison

●Allow PRB Transfer to PRSA

●Allow PP Transfer to Master Trust

●PRSA mirror PRB features (Salary and Service)

●Retain Section 785 (PP Term)

●Early Retirement to be pushed out to 55 (from 50).

●Harmonise Ill Health Definitions


Gerard

www.prsa.ie

I wouldn't be a fan of pushing out early retirement.

What do you consider the negatives of that move?