UK based pension/life insurance?

_Rory2019

Hi everyone!

First of all, let me say that I'm planning to speak with a financial consultant about this, but before I contact one I'd like to have at least a vague idea of a few things.

Basically, I'm originally from NI, but I'm now working on this side of the border. I'm in a slightly unusual situation where half of my income is paid in euro to my Irish account and the other half is paid in GBP to my NI account. I'm self-assessed when it comes to income tax and I pay tax in Ireland on the full amount.

Anyway, I'd like to set up a private pension, life insurance, and health insurance, but I have a few questions first:

1) Is there any reason why I shouldn't set up my private pension in the UK? Is it problematic to have a pension there but not be working there?

2) Are payments to a UK pension eligible for income tax relief here in Ireland?

3) In all likelihood, if anything happened to me, my wife and kids would move back to NI to be with family. Is there any reason why I shouldn't set up life insurance in the UK? Does not working there cause a problem?

I know that some of you might wonder why I don't just set things up here in Ireland since I live here and work here. I'm open to persuasion if that's the best way, but I do have two reasons why I'm wondering about the UK:

A) My family has used a particular financial consultant (NI based) for years and I trust their judgement on this. I don't know who is good/trustworthy etc. in this area.

My GBP balance is a lot healthier than my EUR balance, so if premiums etc. were to go from that it would make life easier. I can of course exchange currency if necessary.

Thanks for all your help folks, I really appreciate it!

Henry Ford III

If you are living, working and taxable in Ireland you are not eligible to do any of what you've suggested.

p.s. Your N.I. advisor isn't authorised to offer advice on Irish products, and vice versa.