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Pension Transfer from UK to Ireland

Home > Pension Transfer from UK to Ireland

Is it Possible to Transfer my UK Pension to Ireland?

If you have worked for years in the United Kingdom and are on a pension plan provided by your employer. However, for some reason, you decide to move to Ireland. Is it possible to transfer your pension to Ireland as you transition? Yes, you can.

 

What is QROPS?

To transfer your pension from the United Kingdom to Ireland, you must identify a Qualifying Recognised Overseas Pension Scheme (QROPS) in Ireland. A QROPS is a pension scheme registered and recognized with His Majesty’s Revenue and Customs (HMRC) in the United Kingdom. After identifying a QROPS in Ireland, you can then transfer your UK pension to the scheme.

 

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Three Reasons to Transfer your UK Pension to Ireland

1. Convenience. If you intend to move to Ireland permanently or just to retire in the country, transferring your pension makes the most sense. Your pension will still be in euros, and you will have full control over your fund

2. Tax Incentives – More so, you take advantage of tax incentives if you utilise Qualifying Recognised Overseas Pension Scheme. You will not be liable to pay taxes on your funds if you transfer your pension to Ireland using QROPS.

3. Dependants – transferring your pension using QROPS makes things easier for your dependants and beneficiaries if they live in Ireland. Upon your demise, it would be less complicated for them to administer your estate. However, if your pension is “trapped” in the United Kingdom, they will have significant challenges repatriating your funds.

Now, what is our role in this arrangement?

As trusted financial Advisors, we provide you with the guidance you need to take out a personal retirement bond. We have the expertise to ensure you do not make any mistakes during the process. We are also your trusted ally if you choose to invest your pension fund. We recommend the best suite or portfolio for you to invest in.

Our pricing is transparent, and we have no affiliations with any financial institution – we work for you and you alone. In addition, we employ a seamless and straightforward process. This means no hidden charges and an easy onboarding process.

Contact us in Dublin on 087 4121346 to find out more about a QROPS in Ireland

Oisin at Secure Your Future recently helped me with some savings and investment advice. I found him trustworthy, the advice provided to be independent and simple to understand. Happy to recommend him as an advisor for savings and investment advice.
Sean McKinleyAccountant - Castleknock
As a small Business owner I had spent most of my time working in the now and not planning my own personal future. I was recommended to reach out to Oisin and from first contact I found Oisin's approach to be extremely professional and knowledgeable with simplifying the process for me. i would highly recommend anyone looking to pre plan their future to contact Oisin
Andrew KennySenior Project Engineer at PM Group
Last year we sought your services to advise us on planning for our financial security in retirement. Since that time we have had several meetings which were delivered in a straightforward manner and easy to follow. I would highly recommend Oisin and his team at Secure Your Future.
Kevin DoranOwner - The Denture Clinic
After researching a number of different financial advisors and planners I made the decision to go with Oisin to transfer my UK pension back to Ireland. From the off, Oisin was personable, and very knowledgeable on all aspects of the process, both procedural and legal. He was able to simplify a series of complex activities and kept me well informed along the way. Oisin was very flexible and efficient with his services. We had an initial face to face consultation and then the process was completed remotely via email, text message, teams, and online document signature. Oisin was a pleasure to deal with and I'd be quick to recommend him to anybody looking for help with any aspect of their pension.
Gerard KennyHead of CQV - Ireland at PM Group

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