Transferring existing Irish benefits outside of Ireland is a relatively new practice for Irish expats, or those who have worked in Ireland at some stage.
The available transfer options are not always widely understood until retirement, at which point a transfer overseas may no longer be authorised. Hence, taking expert and timely advice is essential.
The Irish pension framework is well structured for Irish tax residents. -However, anyone who becomes non-tax resident can face a host of complexities and disparities. These issues are often only discovered at retirement, or later,- when funds may pass to beneficiaries.
For example, currently non-Irish tax residents with preserved defined contribution (money purchase) pension funds are faced at retirement with only one option: