Transfer of UK pensions

[robmac110]

I have two pensions from the UK, one a company pension and the other a private pension. Now that I am living in Ireland I want to transfer these to an Irish Pension company. I have checked with both pension companies and they are willing to do this, but the fund has to be registered with the UK revenue. Has anyone any advice to the best deals out there for a lump sum investment pension. Also I may need to borrow against these in the next two years does anyone take the pension holding as security on a loan? Thanks

 

[LDFerguson]

Hi Rob,

The Irish pension product must be a Qualifying Recognised Overseas Pension Scheme - a list of such schemes is available here. They include Personal Pension plans and Buy Out Bond products.

You can't use an Irish pension fund as security as a loan.

Regards,

Liam D. Ferguson
www.ferga.com

 

[boaber]

It can also include occupational schemes & PRSAs.

If you are a member of a scheme/PRSA here and it does not appear on the list referred to by LDFerguson, then your provider can apply to HMRC for QROPS status.