Private Pension lump sum 25% tax free

SCOOP 64 · 13-03-2022 9:33pm #1

i have a private Uk pension of which i can take 25% tax free, if i did take this and then transferred it to Ireland am i right in understanding i would then be taxed here on it, if so what percentage.

Henry Ford III · 14-03-2022 12:30pm

Where do you live?

SCOOP 64 · 16-03-2022 8:24pm

https://www.boards.ie/discussion/comment/118782704#Comment_118782704

Ireland

Henry Ford III · 17-03-2022 3:21pm

What options (if any) have you been offered in the UK?

You could potentially transfer it back and take the 25% tax free. Anything beyond that is replacement (post retirement) income so will be taxable.

SCOOP 64 · 17-03-2022 8:31pm

I am at the age now that i could take 25% tax free now and leave the rest until my actual retirement age, so 25% tax free from a Uk pension transferred to my Irish bank account here, what do mean by could potentially transfer back ? thanks

The J Stands for Jay · 21-03-2022 3:44pm

Transfer to an Irish pension first. Then you can take 25% tax free and leave the balance in an A(M)RF. You'd probably be best to get advice on these transactions.

Henry Ford III · 21-03-2022 4:22pm

https://www.boards.ie/discussion/comment/118814478#Comment_118814478

AMRF's don't exist anymore.

Jim2007 · 21-03-2022 8:06pm

https://www.boards.ie/discussion/comment/118814478#Comment_118814478

The UK is now a third country, which means the EU directive on pensions including the facilitation of transfers no longer applies. I know there were negotiations going to replace it, but I have not heard the outcome.

Private Pension lump sum 25% tax free

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