What to do with a UK Pension
askpaul explains what to do if you have a UK Pension:
Are you someone who has left pension entitlements behind you with the UK from years ago, maybe you worked there? Or did you have an occupational pension scheme here that had a pension scheme in the UK that ran for the Irish employers? If so, you need to get in contact with us today to assess whether you should bring that pension and transfer it back to the Irish market. We get a lot of enquiries from people around Brexit. They’re worried about their pensions. They’re worried about Sterling and they want to take control of those old pensions in their name.
Luckily enough, you can do that, but if you do this, you need to do it under a control called Cru Ops, which means it’s a little bit more technical than transferring the average pension benefit. You also need to have a sign-off from an IFA, which is an independent financial advisor in the UK marketplace. The good news for you is, here that askpaul have teamed up with those advisors in the UK that can help transfer benefits from the UK back to Ireland.
This is done on a case by case basis. It will not suit everybody as some of these pensions will have excellent benefits attached, but there are some cases that it makes complete sense to transfer back to Ireland. If you want to know more about this, please get in contact with the askpaul team and either myself or a member of the team will take it through your options. We’ll be able to let you know what you can and can’t do and provide some certainty around the decision that you ultimately have to make.
Hope you found this content worthwhile. As always, if you have any questions, don’t hesitate to get in touch with us.
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