I've had a look in the key posts, but still no wiser
Was in a DB scheme for 14 yrs, made redundant in 2006. At the time I made the pension paid-up. I'm at home with my children since, so didn't have a new employer to transfer to.
The scheme is being wound up now, and I have to make a decision. My options are either a PRSA or a PRB, and I want to read up on the differences between them. I plan to talk to an independant financial advisor - specifically a pension advisor? But before that I want to find out as much as I can so I know what questions to ask. I suppose I need a side-by-side comparison of the two, with pros and cons of each.
I'm not planning to return to the workforce in the short-term (unless circumstances change dramatically). Would this be relevant to my decision? Also, since I'm not currently a tax-payer, then I assume we would be better off paying AVCs into my spouse's pension to avail of tax-relief, rather than paying anything into a PRSA or PRB that I set up (is it even permitted to make payments into either?). Or would I be able to file a tax-claim at the end of the year if I was able to pay in? The more I think about it, the more I realise how clueless I am!
The key-post on retirement bonds dates back to 2004 - has there been any changes since then?
The timing is not very reassuring with the way the stock markets are right now but I have no choice on the matter, unfortunately.
Was in a DB scheme for 14 yrs, made redundant in 2006. At the time I made the pension paid-up. I'm at home with my children since, so didn't have a new employer to transfer to.
The scheme is being wound up now, and I have to make a decision. My options are either a PRSA or a PRB, and I want to read up on the differences between them. I plan to talk to an independant financial advisor - specifically a pension advisor? But before that I want to find out as much as I can so I know what questions to ask. I suppose I need a side-by-side comparison of the two, with pros and cons of each.
I'm not planning to return to the workforce in the short-term (unless circumstances change dramatically). Would this be relevant to my decision? Also, since I'm not currently a tax-payer, then I assume we would be better off paying AVCs into my spouse's pension to avail of tax-relief, rather than paying anything into a PRSA or PRB that I set up (is it even permitted to make payments into either?). Or would I be able to file a tax-claim at the end of the year if I was able to pay in? The more I think about it, the more I realise how clueless I am!
The key-post on retirement bonds dates back to 2004 - has there been any changes since then?
The timing is not very reassuring with the way the stock markets are right now but I have no choice on the matter, unfortunately.