Hi - thank you to all the contributors here, I have found reading the Forum very useful.
I would be grateful if someone can confirm my understanding regarding a potential withdrawal from a UK pension fund from a previous employment. I am now working & contributing to a defined contribution pension in Ireland. I left the UK (and that employment) c.18 years ago.
- I believe that it is possible to withdraw 25% tax free from an Irish tax perspective without transferring the fund to Ireland, I am over 55 years old. Is that right?
- It would not impact on my ability to receive tax relief at marginal rate in Ireland on future pension contributions. I understand in the UK, once a fund is moved to retirement/withdrawal, the ability to contribute to a pension is lower/ limited. Is there a similar rule in Ireland?
Who is best placed to advise on this, an accountant or financial advisor? Apologies, I did ask a similar question about a year ago & received a reply but the referenced document didn't answer my question (as far as I could tell!).
Thanks very much
I would be grateful if someone can confirm my understanding regarding a potential withdrawal from a UK pension fund from a previous employment. I am now working & contributing to a defined contribution pension in Ireland. I left the UK (and that employment) c.18 years ago.
- I believe that it is possible to withdraw 25% tax free from an Irish tax perspective without transferring the fund to Ireland, I am over 55 years old. Is that right?
- It would not impact on my ability to receive tax relief at marginal rate in Ireland on future pension contributions. I understand in the UK, once a fund is moved to retirement/withdrawal, the ability to contribute to a pension is lower/ limited. Is there a similar rule in Ireland?
Who is best placed to advise on this, an accountant or financial advisor? Apologies, I did ask a similar question about a year ago & received a reply but the referenced document didn't answer my question (as far as I could tell!).
Thanks very much