Can I transfer my UK pension to an Irish one?

Ask the Experts: I’m moving back to Ireland from the UK. What should I do with my pension?

All options should be explored in considering a pension plan move

All options should be explored in considering a pension plan move

Question:

I have been living and working in London for the past 11 years and for nine of those years I have been part of my employer’s pension scheme – where we both contributed 5 per cent of my salary. I’m moving back to Ireland now and will be saving into my new employer’s pension scheme. I’m wondering what my options are in terms of my UK fund. Can I amalgamate it with the new scheme? I’m concerned that I could lose track of it if I just leave it where it is.

Answer: Jerry Moriarty, CEO of the Irish Association of Pension Funds

It might be quite difficult to transfer it to your new employer’s pension scheme as the UK Revenue have quite strict rules about the type of arrangement that you can transfer benefits to.

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