PRSA for stay at home mother?

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billygruff said:

Until this week she did not know what the status of her pension was as her employer was overseeing the scheme and she was having difficulty getting any information from them.
However, yesterday an Irish Life rep phoned her and told her that her previous employer was finished up its pension scheme for all employees and that her pension fund was worth 32,000 euro. The Irish Life rep said that the fund would be transferred into a PRSA in my partners name.

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She should have a choice in this matter and be allowed shop around for the best deal (e.g. the best/lowest charging option such as a buy out bond/pension retirement bond etc.). I don't think that she should be railroaded into any specific option without due consideration and ideally having sought advice.

My knowledge of pensions / PRSA is low, so I need some help here.

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Lots of info here and on the Pensions Board website:

http://www.pensionsboard.ie/

Can my partner work in the home (not paying PRSI) and have a PRSA?

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Yes - don't confuse PRSI (http://www.welfare.ie/topics/prsi/index.html) with PRSAs as they are separate things.

How does the PRSA work?

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See the Pensions Board website.

How ofter can she pay in?

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As often as she likes but there is no tax advantage while not working so normally one wouldn't bother.

The Irish Life rep is calling out in person next week, what questions should we ask him?

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You would be better off talking to an independent advisor rather than a tied agent who will just sell you his products and not necessarily give you comprehensive advice. At the very least read up on PRSAs and other transfer options for occupational funds here on AAM and on the PB website.

Thanks for the advice Clubman, much appreciated.