Lived or worked in the UK? You can transfer your private pension fund back to Ireland.
The Irish Revenue will allow the transfer of UK private pensions that are part of an occupational pension scheme or personal pension plan in the UK. They can be transferred to a Personal Retirement Bond or Personal Retirement Savings Account, here in Ireland.
If you have lived or worked in the UK at some stage of your career, you may have a UK pension. If you are now living and resident in Ireland, you may want to bring your pension here.
To transfer your private UK pension from the UK back to Ireland, you will need to transfer it to a QROPS Scheme (Qualifying Residential Overseas Pension Scheme), which facilitates pension transfers from the UK to Ireland.
For many years, we have been arranging such transfers from the UK to Ireland, and we can help you figure out the quickest and easiest way to get it done. Every new case can be different and must adhere to many Revenue rules; we can address and simplify this process for you.
Consistent stock market volatility has left many pension investors struggling to get information on the impact of market turmoil on their pensions in the UK. Having an Irish based advisor will allow you to get access to information far quicker in times of uncertainty.
When you access your Pension in later years you will be receiving your money from an Irish Pension Fund as opposed to a UK Pension fund.
Since the UK left the EU, there has been a lot of uncertainty about its economy. Moving a UK pension to Ireland keeps your savings within the EU, giving more stability and fewer worries about future changes.
Having your Pension money held in Sterling in the UK introduces currency fluctuation risk, whereas having your Pension in Ireland long-term eliminates that additional currency risk.
A QROPS-registered pension fund can accept transfers from the UK to Ireland without any tax liability. (provided certain criteria are adhered to). If the beneficiaries of your Will are not living in the UK, leaving your pension there may become more complicated to deal with in the future. Also, if you are not dealing with an Irish pension broker, then there could be significant delays. It could make sense to transfer it now to Ireland.
Protecting what you have built up in your pension fund is important. We can help you decide if now is the right time for you to transfer your UK Pension. We can also provide ongoing advice on the performance of your pension.
Your new pension fund is administered in Ireland with access to local advice from your Irish advisor. We have 20 years’ experience providing pension advice in Ireland.
Bear in mind that each pension scheme will have been set up with its own rules, and you will need to explore whether yours is eligible. To do this, you should start by contacting a pension advisor like us. We can assess your situation and advise you whether or not a transfer to Ireland is possible.
QROPS (Qualifying Recognized Overseas Pension Scheme) rules are primarily governed by the UK’s HMRC (His Majesty’s Revenue and Customs) for the transfer process and initial approval, but the ongoing operation and benefit payments of the scheme are subject to the rules of the country where the QROPS is established, in this case, Ireland. We can help you understand this better.
A Qualified Recognised Pension Scheme (QROPS) is a pension scheme that facilitates the transfer of your UK Private Pension to Ireland. You need a financial advisor in Ireland to make sure your pension is being transferred to a QROPS-approved pension scheme.
NO, a UK state pension cannot be transferred to a Qualifying Recognized Overseas Pension Scheme (QROPS). QROPS are designed for transferring private pensions, such as defined contribution, defined benefit, and SSAS (Small Self-administered Schemes), not state pensions.
Usually, your first contact with us will be a short telephone call or an email with Joanne in client services. This allows us to understand your situation and let you know how we can help you. A quick phone call or email can often be the easiest way to take the stress out of these decisions.
For most of our clients that initial phone call or email is where they start to get clarity on the right steps to get the most from their Pension.
Transferring your Pension from the UK to Ireland can be far more straightforward than you think. We will prepare all the forms and paperwork for you, deal with your pension provider on your behalf, and of course keep you updated along the way.
Peace of Mind for Families Across Ireland
After so many years working and building up my Pension it was quite daunting when the time came to access my Pension. There were lots of different options available to me and I wanted to make sure I was fully informed. Michael in Guardian Wealth helped me to understand the immediate and long-term implication of the options available to me and guided me through the process. I would have no hesitation recommending Guardian Wealth.
Trying to make a decision between keeping my existing Defined Benefit Scheme or taking a transfer value was not a clear decision for me. I needed to take advice from somebody with experience so was very happy when I reached out to Michael in Guardian Wealth. Once we weighed up the advantages and disadvantages of each option it became clear to me what I needed to do. I would recommend Guardian Wealth to anybody trying to make a similar decision.
I have been receiving advice from Jim Doyle in Guardian Wealth for 3 years. I was advised by a friend to use Guardian Wealth and so I contacted them when the time came to access my pension. Jim has been very good to me and has given me great advice over the years. He keeps in touch to give me updates on my pension and he is always available by phone if I have any questions. I am delighted that I am dealing with Guardian Wealth. They are a professional outfit and very straightforward to deal with.
I contacted Guardian Wealth as I was looking to get advice on how best to transfer my UK Pension back to Ireland. I met with Michael a few days later and he explained the process to me, and we got the documentation completed to enact the transfer. I don’t think it was something that I could have completed myself, so I am more than happy to recommend Guardian Wealth to anybody looking to transfer their UK Pension back to Ireland.
Trying to get my UK Pension transferred to Ireland was a confusing process. I was getting different advice and opinions from different sources. Michael reviewed my circumstances and was able to explain exactly what my options were. He also contacted the UK pension provider to make sure the process went smoothly. I would have no hesitation recommending Guardian Wealth.
Many thanks for all your help in making the transfer so seamless. I have to say I thought you did an excellent job and I am lucky to have landed on your website when I first started looking for someone to help me on this.
I had been researching the possibility of transferring my UK Pension back to Ireland for quite some time. However, it wasn’t clear to me what steps I had to take to get it done. Once I contacted Guardian Wealth Jim was able to explain the process to me, organise the paperwork and deal with my UK Pension provider. I am happy to recommend Guardian Wealth to anybody who needs help with their UK Pension transfer.
Drawing down my Pension was a big financial decision and I was very happy I chose Guardian Wealth. Michael clearly explained my options to me and dealt with my insurance company to make sure it went smoothly. I now meet with Michael every year to make sure my retirement plans are on track. I have no hesitation in recommending Guardian Wealth’
I have experienced the ups and downs of Pension funds over many years. As I got closer to retirement, I needed to get advice regarding the risk profile of my pension funds as I didn’t want to see it fall in value at this stage of my life. Michael was able to provide practical steps to make sure this risk was reduced for me and I am happy that I am on the right road. They are always at the end of a phone & very accommodating to meet at short notice to discuss any queries that we may have. I do recommend Guardian Wealth to anybody worried about their pension.
I had my Pension with my Bank but as the fund grew, I was becoming more and more concerned that I was always dealing with somebody different. I wanted to have a direct line to somebody who could advise me and meet with me as my circumstances changed over time. Michael is my Pension Advisor now and is always at the end of the phone whenever I need him. I am happy to recommend Guardian Wealth.
Trying to map out a personal financial plan is not an easy task. As most business owners know we spend so much of our time making sure our business is successful, we don’t always have the time or the ability to understand what our personal finances will look like 20 or 30 years from now. Michael, in Guardian Wealth, was able to show me what I needed to do now to ensure I was going to be financially independent when I am older. We meet every year to review progress and I am more than happy to recommend him and Guardian Wealth.
Like most business owners I put most of my energy into making sure my business is successful. Very often that leaves little time to stop and look at my bigger picture financial position, and plan for the future. I have been working with Michael in Guardian Wealth for a number of years now and it’s great to know that he has a financial plan in place for me, and meets with me regularly to make sure I am on track. I am happy to recommend Guardian Wealth.
My husband and I contacted Guardian Wealth seeking advice and help with our pensions. I am an ex Aer Lingus employee and I found it very difficult dealing with Mercer. We met with Jim Doyle in Guardian Wealth. He gave us straightforward advice and clearly explained the options available and the process to me. Jim and his team were very efficient and easy to deal with. They dealt directly with Mercer on my behalf and got everything sorted for me. I am more than happy to recommend Guardian Wealth if you are looking for pension advice.
I would like to sincerely thank you and the rest of the team at Guardian Wealth for the professionalism and due diligence in facilitating my pension transfer from the U.K. You yourself & Stefan carried out your duties in an exemplary manner, always returning calls and emails (a rare thing unfortunately these days but one to my mind which sets Guardian Wealth and yourself particularly high in customer relations). I would have absolutely no hesitation in using yourselves again or recommending you to others.
