world201812
Registered User
- Messages
- 71
I’ve had another look at this, and reckon although you can’t purchase referable amounts, you can in fact transfer in ASAP, as in ‘The arrangements outlined above come into force on 1 October 2019’.
The reason I say this about transferring in sums is the booklet says the following…..
John is not vested, but he is eligible to transfer benefits into the Scheme. There is no requirement for a Scheme member to be vested at the time of transfer, but they must have the potential to become vested before reaching their NRA.
Based on the above I can transfer in a PRSA on 01/10/19, irrespective of how short a time I have been in the public sector.?
There does appear to be limits in terms of the lump sum you can transfer in.
If I purchase or/and transfer, what are the advantages in general terms compared to leaving my PRB and deferred pension as they are? As a new entrant to the public service, I am finding this stuff a nightmare to comprehend....
The short answer is that I don't know. But these extracts from the circular seem to indicate that they will not accept split transfers :If someone had say 30k in a previous PRSA/Pension, and the most I could transfer in was 15k, I presume I could split the 30k pot into two through the provider, say Irish Life, and that way I could make a ‘clean’ transfer in?
On the calculation, yes, I will also seek advice via the trade union.
Sorry - I meant purchase of referrable amounts.n terms of ‘Why not purchase notional years’, do you mean referable amounts or as the document references? Or something else? My understanding is notional years can’t be purchased.
But, the two options are 1). Move to an Approved Pension Plan or 2) to a Personal Retirement Bond (Buy-Out Bond).
How do I go about splitting the 50k pot from Irish Life into even sub-pensions, one of which is the exact value of which I wish to transfer into the public service scheme?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?