Pensions and changing your job

Nowadays it's not unusual to change your job or employer during your career .You have the option to either :-

1. Defer decision and leave it where it is

2.Transfer to a Personal Retirement Bond

3. Transfer to a PRSA (restrictions apply)

4. Transfer to your new employer scheme

What is a Personal Retirement Bond?

A personal retirement bond (also known as a buy out bond) is a policy that is used as a new 'home' for certain types of old pensions.

Who can take out a Personal Retirement Bond?

You can take out a buy out bond if you have one of the following:

• A pension from a previous employer's pension scheme

• A pension from your current employer's scheme if it is being wound up

• A UK pension and if you're now living in Ireland

Transferring your pension into a Personal Retirement Bond with Nelson Life gives you more control over how and where your money is invested.

Benefits of a Personal Retirement Bond include:

• Access to your retirement fund from age 50

• Full control over your investment

• Wide choice of Investment Options

Is not always in your interest to transfer to a different provider - for example, you may have a protected value, there may be penalties if you surrender and transfer your pension, there may be underlying protected annuity rates, you may be a member of a defined benefit scheme.

Nelson Life can assess whether it is in your interests to consider moving your pension.

If you have a financial planning or product question please contact us : 091 44 11 88 or office@nelsonlife.ie  

LIFE INSURANCE | INVESTMENTS | PENSIONS | FINANCIAL PLANNING.

Nelson Life are regulated by the Central Bank of Ireland.

WARNING: Past performance is not a reliable guide to future performance. WARNING: The value of your investment may go down as well as up. WARNING: You may lose some or all of the money you invest. WARNING: These funds may be affected by changes in currency exchange rates. WARNING: If you invest into this product you will not have access until you retire. The above content does not constitute investment advice, as it does not take into account the investment objectives, knowledge and experience of financial situation of any particular person. Prospective investors are advised to make their own assessment of the information contained herein and to obtain professional advice suitable to their own individual circumstances.