Moving Private Pension outside EU

[kiwijbob]

What options do I have with my small private pension in my work
group pension plan (company now liquidated) which is being wound
up and hence I'm emigrating to Canada/USA. What can I do with
my pension i.e can I move it to a provider in Canada/USA? and as
it's a small sum would it be worth it? will I have to pay some ridiculous
fee?

cheers

 

[LDFerguson]

An Occupational Pension Scheme fund can be transferred to a comparable scheme in another country as long as (a) the receiving scheme is willing and able to accept the transfer and (b) the Irish Revenue are satisfied that the receiving scheme is a recognised pension scheme, i.e. that it is indeed a pension plan with rules comparable to those that apply here in Ireland.

There's no automatic penalties or charges for transferring. You'd need to check with the Irish scheme advisors if there is a penalty for transferring out. You'd also need to check with the advisors of the new scheme to see will they charge anything.

The alternative is to transfer to an Irish Buy Out Bond or PRSA. You can draw your pension from one of these in any country.