Irish Pension Information

Pension Lump Sum at 50 Ireland

Find out if you’re eligible for a Pension Lump Sum at 50 for FREE.

If you’re thinking about taking your pension lump sum at 50 you need to get all of your options first. That’s where we come in. We connect you with a Financial Advisor who will outline all of your options for FREE.

If you decide that you don’t want to go with any of the options offered then you don’t pay a thing. It’s that simple! Its our No Access – No Fee Guarantee.

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Taking Pension Lump Sum at 50 Ireland

Work Pension
From 50+

If you are over 50 and have an old work pension then you can take your Pension Lump Sum at 50. The only rule is that you are no longer working for the same employer.

Personal Retirement Savings Account (PRSA) From 50 +

If you have a PRSA you can access it at 50 if an employer has made one or more contributions to it and you are NOT working.

Ill Health Retirement
Any Age

You can access your Pension Lump Sum at any age if you are no longer able to work in the industry you have the pension from. To do this you would need a letter from your doctor.

How Much Can I Take?

When you are accessing your Pension in Ireland you can take a 25% tax free lump sum. You then decide to take the remaining 75% as a taxable lump sum or to invest some or all of it to take at a later date.

Cashing in your pension at 50 couple placing funds in jar with the word pension on it.

25% Tax Free

Take Your 25% Tax Free Lump Sum. This lump sum is deposited directly into your bank account.

Take What is Left

Once you have your 25% Tax Free Lump Sum you can then take whatever is left as a taxable lump sum or invest it.

Invest Remainder

You might invest some or all of what is left to take as a lump sum at a later date or to give you a yearly income when you retire.

Client Testimonials

Fast Simple & No Bull

I spoke to Nikki who knew instantly that I could take my Pension Lump Sum at 50. I signed a one page form and next thing I got a call with my options. I asked for the 25% Tax Free Lump Sum and then invested the rest for when I retire at 60. If I had a smaller pension pot, I probably would have taken the lot. I wasn't pushed or sold either way by the advisor they just explained my options and let me decide myself. If you want to talk to someone and not be sold to then give these lads a call.”
John Barrett

Take Control of
Your Pension

After you take your 25% Tax Free Lump Sum from your pension and invest the remainder there are many benefits to you and your family which you just don’t get if you leave it where it is.

old lock in unlocked state isolated

Stop Your Fund From Being Taken

Did you know that in many funds there is a rule that if you pass away your fund is halved before it is added to your will. This means the scheme simply takes half of your money and keeps it. When you take control of your own fund, this does not happen. Instead the full amount can be inherited by your family.

Your scheme can also become underfunded. If this happens you will receive less than promised to you at retirement as the scheme cannot afford to pay. If your scheme becomes underfunded there is nothing you can do however if your fund is in a fund controlled by you - for you this can't happen.

Invest Your Fund for You, Not Everyone Else

If your money is currently in a work pension scheme, the investments are targeted to everyone in the scheme not you.

Now that you are nearing retirement age you don't want to be taking the same risks as a 20 year old. If the fund goes down the 20 year old has the time to allow the fund to recover but you don't.

You can choose less risky investments which in the current market is what everyone approaching retirement should be doing.

Check out our Video Explainer

If you would like more information on the process please check out our video which explains the process step by step.

Thinking about Taking your Pension Lump Sum at 50 in Ireland?

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