I am a deferred member and my DB scheme closed 18 months ago. I have been given the usual options for the transfer value, and the applicable 2 options for me are buy out bond with my choice of provider or default provider Irish Life.
The transfer value was about 15 times the annuity promised by the DB scheme. I will be 64.2 years on the date I have to present my choice of buyout bond provider, and I have no idea how long it will take to effect the transfer.
NRA is 65. The transfer value is over €400k. I have a few questions.
The transfer value was about 15 times the annuity promised by the DB scheme. I will be 64.2 years on the date I have to present my choice of buyout bond provider, and I have no idea how long it will take to effect the transfer.
NRA is 65. The transfer value is over €400k. I have a few questions.
- Do I need to go the buyout route at all considering my age?
- Can I hold the bond beyond NRA in the hope of improved annuities or change of legislation?
- Am I wasting my time looking at alternatives for the default bond provider based on the short life of the bond?