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Client Centre

Did you ever work in the UK?

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Do you have a pension fund in the UK? If you do, then you should read on!

Under current regulations, if you have a pension plan in the UK which you are no longer paying into, you are allowed to transfer it to Ireland to your new employer’s pension scheme or into a Personal Retirement Bond (QROPS).

With Brexit looking like it will go ahead as planned, there may be some uncertainty about the value of Sterling in the future and this has prompted many ex-UK Pension holders to transfer their funds back to Ireland.

But, what is even more urgent is the strong likelihood that Personal Retirement Bonds are to be abolished in the next couple of years as part of the Government’s “roadmap” to pensions simplification.

This may mean that your only option is to transfer your UK pension to your Irish employer’s pension fund – if you have one……restricting your option to be able to mature your pension early as you will have to wait until you are retiring, to be able to mature your fund.

If this suits your circumstances, then you may be happy to leave things as they are.

If, however, you would like to be able to access your money before retirement, then you really need to seek advice.

Contact us today so we can answer any queries you may have.

Steadfast Financial
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