> Yes there is, if you want to.....Transfer Personal Pension to PRSA, transfer that PRSA to Scheme.
Is that legal, you are essentially opening a pension to close it again ? Who is to say that the PRSA provider won't say the same thing about transferring the pension value ?
> If your wife is now a member of the DB plan, she has to stop contributing to the personal pension plan ...
My wife has stopped contributing to the scheme. The value transferred to university's defined benefit scheme is used to buyback years, it doesn't go into another defined contribution fund, this makes it quiet attractive. We want to "get in" before this changes, I am correct aren't I defined benefit is better?
My wife set up her pension at the same time I set up my PRSA with Irish Life, June 2004 ... so PRSA's were on the market at the time. I/We thought she had taken out a PRSA and were very surprised to learn that it was not a PRSA.