Moving pension from UK to Ireland

[cannco253]

Hi All

Just wondering if anyone has done this and how complicated the process was?

Most of my pension savings are UK based, but I'm back in Ireland for the last 2 years and have been wondering if it's worth my while transferring some/all into a QROPs scheme?

 

[Sadim]

Hi All

Just wondering if anyone has done this and how complicated the process was?

Most of my pension savings are UK based, but I'm back in Ireland for the last 2 years and have been wondering if it's worth my while transferring some/all into a QROPs scheme?

On a related topic, I was a member of an occupation scheme in the UK for a short while (4 years) in the 1990s. The scheme was would down in the mid 00s and my fund was transferred into a Personal Retirement Bond. I have been told I have no options with this but wait until 65?? While it is a small amount (Guaranteed Minimum Pension Payment amount of £700pa) I would prefer if at all to cash it in and not hold sterling assets given the chaos that is about to erupt over there with Brexit.

 

[Steven Barrett]

If it is a defined benefit pension, there is a lot of work involved and it can be quite expensive. If it is a defined contribution pension, it is a load of paperwork. The UK life companies aren't that obliging, so it can take a while, especially if you don't have all your ducks in a row.

And then you must transfer it to a QROPS approved pension in Ireland. There's only about 4/5 options.

Steven
www.bluewaterfp.ie

 

[Marc]

Hi All

Just wondering if anyone has done this and how complicated the process was?

Most of my pension savings are UK based, but I'm back in Ireland for the last 2 years and have been wondering if it's worth my while transferring some/all into a QROPs scheme?

I moved my pensions from the U.K. to Ireland and then moved them on again.

detailed analysis on my blog here

UK to Ireland Pension Transfers - Everlake

This is a detailed analysis of the issues to consider if you live in Ireland and have UK pensions and or a UK National Insurance Number

globalwealth.ie