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Closing a pension

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  • 10-04-2014 6:35pm
    #1
    hayser
    Registered Users Posts: 393 ✭✭


    I have around 9000 saved with my bank in a pension fund. At the moment me and my family are going through some expensive times regarding things around the house being old and needing to be fixed as well as health problems. The 9000 would go a long way in relieving the financial pressure. I'm good with saving so I know I'll be back saving once we're through this bad time. I was wondering does anyone know roughly how much interest I'd pay on closing a pension with this amount in it? Is there any amount of time I should not have paid into the pension to be eligible to close it? I had heard 2 years before but I'm not sure if this is still true.


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


    hayser wrote: »
    I have around 9000 saved with my bank in a pension fund. At the moment me and my family are going through some expensive times regarding things around the house being old and needing to be fixed as well as health problems. The 9000 would go a long way in relieving the financial pressure. I'm good with saving so I know I'll be back saving once we're through this bad time. I was wondering does anyone know roughly how much interest I'd pay on closing a pension with this amount in it? Is there any amount of time I should not have paid into the pension to be eligible to close it? I had heard 2 years before but I'm not sure if this is still true.

    Depends on the type of pension.
    Is yours a PRSA? I tried GOOGLE for you, https://www.google.ie/#q=cashing+in+a+prsa+ireland
    If its not, give your bank a call.


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