Transfer from scheme to PRSA

[Bedlam]

Hi,

Can anyone tell me is there a limit to the amount a PRSA Provider can accept on behalf of someone in the form of a single premium transfer from a scheme that has been wound up?

Thanks

Bedlam

 

[LDFerguson]

No there's no limit if the transferring scheme is being wound up and service is <15 years.

 

[Bedlam]

Thanks for the reply and if the scheme were not being wound up is there a limit?

Thanks


Bedlam

 

[LDFerguson]

How many years' service?

 

[boaber]

Thanks for the reply and if the scheme were not being wound up is there a limit?

There is no limit - however for transfers over €10K the member should be provided with a Certificate of Comparison - which nobody provides - so in effect the limit is €10K

 

[LDFerguson]

There is no limit - however for transfers over €10K the member should be provided with a Certificate of Comparison - which nobody provides - so in effect the limit is €10K

If the transfer value represents a non-preserved benefit (less than 2 years' service) it can be transferred to a PRSA without Certificate of Benefit Comparison even if it is >€10,000.