If you have a pension in your employment and you are either made redundant or leaving your employment to go to another job you need to get advice in relation to choosing the best options for your pension benefits.
Cregan Kelly Financial Services are one of Irelands independent advisors on pensions and pension planning. If you have been made redundant or you are leaving your employment and there was a pension in place in respect of that employment then you will need to get the best advice in respect of these pension benefits. We take great care to advice you on the best options available and we explain in detail all the options available.
These are the 4 main options
1.
Leave Pension Benefits in Existing Scheme Leave the pension benefits in the existing scheme until you reach normal retirement age in order to draw down the benefits. The pension will continue to be invest and grow in that fund and you will need to wait until the normal retirement age of the pension before you can draw down on your pension benefits.
2.
Transfer your Pension Benefits to a Retirement Bond Transfer the value of your pension benefits into a Retirement Bond. By transfering your pension assets into a pension retirement bond means that you are taking ownership of your pension assets and you can access the pension benefits from age 50 onwards. The assets of your pension are in a bond in your name and you can choose how and with whom they are invested. We would strongly recommend that you get very good advice if you go this route and we would recommend that you contact ourselves as we specilise in arranging pensions bonds
3.
Transfer your pension benefits to a PRSA Transfer your pension assets to a PRSA. You also have the option to transfer your pension benefits into a PRSA.If you transfer your pension benefits to a PRSA then you cannot access your pension benefits until age 60.
4.
Transfer to a New Pension Scheme Transfer your pension benefits to a new pension plan that you are either setting up yourself or if you are joining a new company that is putting a pension in place for you , then you can transfer your pension benefits to this new pension scheme with your new employer.
You will need advice on which one of the above is the best for you and I would recomend that you contact myself Colm Kelly at 01 8700370 and I can advise you on the best option for you.
We take great care to give you the best independent advice on offer.
Call us on 01 - 8700 370 for more information
If you would like to arrange a consultation with one of our financial advisors, pleaseclick here.
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Cregan Kelly Financial Services is a registered name of Finance Life & Pensions Limited and is regulated by the Financial Regulator as an Authorised Advisor.
Cregan Kelly Financial Services, Broadmeadow Hall, Applewood Village, Swords, Co. Dublin, IrelandTerms of Business
