Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Paid into pension for many years - can I withdraw it?

Options
  • 25-02-2014 4:19pm
    #1
    celticwarrior8
    Registered Users Posts: 28 ✭


    Hi

    Some general info needed here. I have paid into a pension fund over the last 14 years. I stopped contributing in the last 2 years due to being out of work etc.

    I know nothing about my pension and cant find any old info relating to it.

    So was wondering who do I turn to to find out what I have in my pension and is it possible to withdraw some or all of it?

    thanks for any info.


Comments

  • Options
    #2
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    You should have some documentation from the pension providers? Like a statement maybe?
    Failing that can you get in contact with your previous company?
    As far as I know you cant touch the pension, but my info might be out of date.


  • Options
    #3
    marathonic
    Registered Users Posts: 1,668 ✭✭✭marathonic


    I think there are very, very limited circumstances where you can withdraw early - and loss of employment isn't one of the reasons.

    If I were unemployed, drawing my pension early would be the last thing on my mind if I had significant debt - as I believe it's one of the only assets that is protected in the event of future bankruptcy. It also doesn't affect your entitlement to means-tested benefits.

    I've heard that the only time it can really be drawn early is, for example, in the case of diagnosis of terminal illness. As the above poster suggested, might be worth reading the documentation associated with your particular scheme.


  • Options
    #4
    celticwarrior8
    Registered Users Posts: 28 ✭celticwarrior8


    thanks for the replies guys


  • Options
    #5
    Triangla
    Registered Users Posts: 818 ✭✭✭Triangla


    If you paid AVCs you can withdraw up to 30% of their value.

    See faq in information section here:

    http://www.citizensinformation.ie/en/money_and_tax/personal_finance/pensions/occupational_pensions.html

    For pension information contact your previous employer. On leaving employment you should have received some form of pension information.

    Request this from your previous employer.


  • Options
    #6
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    Employer scheme - early retirement is possible from age 50.

    Self employed - minimum age 60, earlier only in the event of serious ill health.


  • Advertisement
  • Options
    #7
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    You should send a pm to Liam D. Ferguson who is a regular on boards and is a pension expert and he will advise you accordingly.

    celticwarrior8 wrote: »
    Hi

    Some general info needed here. I have paid into a pension fund over the last 14 years. I stopped contributing in the last 2 years due to being out of work etc.

    I know nothing about my pension and cant find any old info relating to it.

    So was wondering who do I turn to to find out what I have in my pension and is it possible to withdraw some or all of it?

    thanks for any info.


Advertisement