PRSAs and Transfers

The following is a summary of the transfer options available to individuals who may want to transfer their existing pension fund, to and from PRSAs.


PRSA to PRSA - As all PRSA contracts must allow the transfer of assets from one PRSA to another.

Personal Pension to PRSA - Fund assets can be transferred with the mutual agreement of the Personal Pension Provider and PRSA Provider.

PRSA to Personal Pension - Not currently allowed.

Occupational AVC to PRSA - AVCs can be transferred to a PRSA if the pension scheme member is leaving service or the AVC Scheme is being wound up.

PRSA to Occupational AVC - Not currently allowed.

PRSA to Occupational Pension Scheme - Can be transferred if the company pension scheme Trustees agree.

Buy-Out-Bond to PRSA - Not currently allowed.

PRSA to Buy-Out-Bond - Not currently allowed.

Company Pension Scheme to PRSA - If any of the following are satisfied, the transfer can take place without a disclosure requirement (see note*) (i) you have less than 15 years service (ii) the transfer is less than €10,000 (iii) the employee has less than 2 years qualifying service (iv) the Pensions Board have been notified that the scheme is being wound up.

PRSA to Overseas - This is allowed provided the PRSA Provider and/or Pensions Board are satisfied that the overseas arrangement is suitable.

Overseas to PRSA - This is also allowed if the Irish Revenue, Overseas Revenue and Overseas Pension Provider agree.


*Disclosure Requirement - The scheme member must be provided with (i) a certificate of comparison of benefits (ii) a written statement as to why the transfer is in their interest.

As this is intended as a brief summary, it may be prudent to seek independent financial advice on your specific circumstances.