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Did you work in the UK for more than one year in the past? If so, you may be entitled to the UK State pension. You may also have a preserved benefit with a previous employer’s occupational pension scheme, for example, the NHS pension scheme. Alternatively, if you were working in the private sector or were self-employed, you may have a private pension in the UK.

Our experience has shown that many people are not aware that they might have UK pension entitlements or how best to utilise them. If you have previously paid National Insurance Contributions in the UK or have an entitlement to an occupational pension or private pension in the UK that you have not yet drawn down, we can help you identify your entitlements and the best way to access them being a resident in Ireland. We can update you with any important regulatory changes in both Ireland and the UK that may impact on your entitlements or create additional tax liability in the future – and perhaps help you avoid these.

Progressive Financial Services are registered tax agents with Her Majesty’s Revenue & Customs (HMRC). The initial consultation is free; any further investigations will incur a fee.

We will act on your behalf, and provide you with a full written breakdown of your existing entitlements and any options that are available, such as:

– Retaining your pension(s) in the UK i.e. leave it where it is and monitor it going forward)
– Transferring your pension(s) to your current employer’s scheme
– Transferring to a Personal Retirement Bond in Ireland (QROPS)

All our recommendations hinge around tax efficiency and optimum investment strategies. We will require the following information in order to perform a search of any entitlements:

– Your National Insurance Number
– Brief record of employment

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Irish residents account for 28% of the UK State Pension bill in the EU (excluding the UK)
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120,000 Irish people are in receipt of the UK State Pension, having worked in the UK in the past
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There is currently 149,000 Irish people working in the UK
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One in three Irish people who have worked in the UK are entitled to a tax rebate – source

UK State Pension

Consultation Fee €150

Analysis of current financial situation

Review any credit facilities i.e. credit cards or loans

Review any savings and investment provisions i.e. deposits, unit-linked funds, share trading accounts, dividends

Review any pension provisions from current or former employment

Assess requirement for inheritance tax provisions

Write a comprehensive report outlining findings and making recommendations where necessary based on current market conditions and legislation

Purchase

Services

Auto Enrolment Group Pensions

Pensions & Retirement Planning

Executive Pensions

UK State Pension

Investments

Mortgages

Protection

Fee Based Services

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