Pension at 50

if you’re no longer employed by the company in question, then probably yes, with no tax liability arising. It's a bit of a loophole exploited by wealthy people tbh

But it depends on the conditions of the pension scheme, so you'll need to ask them.

You're missing out on the prospect of a decade or two of tax free growth on your pension.

Don't know, tbh

If you're asking whether you can take the entire value of the pension fund as a lump sum — no, you can't. You can only draw a certain proportion in the form of a cash lump sum. Depending on how the fund is structured, that proportion will be either:

(a) 25% of the value of the fund; or

(b) an amount calculated by reference to your length of service while in the pension fund, and your salary when you left.

The fund administrators will be able to tell you which method applies to calculate the lump sum you can draw.

The good news is that the lump sum will be partly or wholly tax-free. You have a lifetime limit of €200,000 that you can withdraw tax free from your various pension/retirement arrangements and, assuming you've never taken a lump sum before, that will be available to you in full. There's an additional €300,000 lifetime limit on amounts that you can withdraw subject only to the 20% rate of tax (even if your marginal rate is above that).

The part of the fund that you can't withdraw as a lump sum you have to either (a) use to buy an annuity, or (b) transfer to an approved retirement fund, where (unless you become disabled, etc) you won't be able to access it until you turn 60, and then only in the form of periodic income, not as a lump sum.

Fund rules differ.

@coolaboola1357 only your fund administrator can fully answer your question.

I am sure you have done your research on this OP but in general withdrawing from your pension so early and so long before retirement- to fund a house/car/ is a very bad idea. Your future self will not thank you. Sometimes people do it for health reasons.

Make sure you have explored all other funding options and understand the current and future impact of whichever funding option you choose.

AVCs are a different ballgame altogether

What's the difference between "own contributions, with investment earnings" and "accrued pension entitlement" in a DC fund with no employer contributions?

I don't think I still have the paperwork but it was clearly stated that this was my "retirement", which happened more than ten years after I left that employment and stopped contributing to the fund?

There are rules that allow trivial pensions to be paid as a lump sum

is there a definition for trivial? This would have been low five figures.

There's two definitions, on is a fund of €30k and the other is a fund which would provide a pension of less than €330pa.

I may be out of date on the numbers, but I believe Chapter 23 of revenues pension manual sets it out.