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Will your previous employer be there when you decide to retire and access your pension?
It is not unusual for people to have several different jobs in a lifetime, one thing that people tend to put to the back of their mind once they change job, is the pension fund they have built up, as the years pass it becomes harder to keep track of these investments.
If you would like to take control of your pension fund today, transfer it into your own name so your previous employer has no further involvement, a Personal Retirement Bond is the perfect vehicle to do so.
What is a Personal Retirement Bond?
A Personal Retirement Bond (PRB) is a straightforward way to take your pension fund with you if you decide to change job. A PRB is a personal policy that is set up for you by the trustees of your old pension scheme. It means that if you leave your company pension, you can bring your pension benefits with you by having the value of your fund transferred into a PRB. If you are planning to leave a job or have already done so and you are part of the group pension plan, a PRB could be a great option for you. A PRB would also be suitable if you decide to leave a company pension scheme for any other reason, or if the scheme is winding down.
Why is a Personal Retirement Bond the right choice?
Control - The main reason it makes sense to take out a Personal Retirement Bond is that
you have greater control over your pension, whereas, if left with a previous employer that you are no longer in contact with means they have control over how it is invested and when you can access it. With a Personal Retirement Bond you have full control of how your money is invested and can access these funds from age 50 if required. It is your money, so why not make it work for you with the help of a Qualified Financial Advisor.
Peace of mind - At Quigley Financial Brokers, our experienced advisors have a proven
history in delivering long term consistent fund performance with AAA rated life companies. For example, one of our AAA rated life company flagship balanced fund has delivered an average of 10.2% since its launch in 1989, and in 2020 alone, it delivered a 12.3% return.*
Keep track of your investment - with a Personal Retirement Bond you will have the
opportunity to keep track of your investment through web access with the life company.
QROPS (Qualifying Recognised Overseas Pension Scheme) - Over the years, thousands of
Irish people have migrated to the UK in search of work and whilst there, paid into a
company pension or private pension arrangement. If this is something that relates to you, rest assured Personal Retirement Bonds are QROPS approved (i.e. they can receive pension transfers from the UK).
*Source: Zurich Life Investment returns.
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