UK Pension Entitlement
If you worked in the UK for more than one year, then you may have an entitlement to the UK State pension. Also, depending on your employment conditions, you may have a preserved benefit with your previous employer's occupational pension scheme e.g. the NHS pension scheme, or if you worked in the private sector or were self-employer, your own private pension. We find that many people are often unaware of their UK pension entitlements and/ or their options to best utilise them. Have a read of the following questions and see if they apply to you:
- Have you previously paid National Insurance Contributions in the United Kingdom and are unsure about how to go about sourcing information on any potential entitlement to UK State Pension entitlements?
- Do you have an entitlement to an Occupational Pension or Private Pension in the United Kingdom that you have not already drawn down?
If answer yes to either of the above, then you should consider contacting Progressive Financial Services to ensure that you are fully aware of important regulatory changes in Ireland and the UK that may impact on your entitlements or give rise to an additional future tax liability – the effects of which you may be able to mitigate by early action!
Progressive Financial Services are registered agents with Her Majesty's Revenue & Customs. 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
Please note that all our recommendations hinge around tax efficiency and optimum investment strategies.
You will need to furnish us with the following information:
- Copy of your National Insurance Number
- Brief record of employment
- Copy of payslip from your current employer