Congratulations on your well-deserved retirement! Now that you’re embarking on a new chapter in your life – have you considered claiming your pension from the previous employer?
“According to estimates, approximately €500m pension benefits go unclaimed in Ireland.”
We understand the reason which is causing you to delay the process – paperwork, unsure of how to claim and manage these benefits or maybe others. But this unclaimed money can significantly boost your retirement income and provide the financial security you deserve.
The good news is that you’re not alone! You have Money Maximising Advisors Limited to provide you with pension consultation and help you claim your previous employer’s pension.
For anyone seeking previous pensions advice Ireland, get in touch with us today!
With that said, let’s explore the steps you can take to claim your previous pension.
Why Is It Important To Locate All Your Pensions?
Tracking down your pensions gives you a clearer picture of your total retirement savings and gain control over it. Having all your pension information in one place allows you the opportunity to compare plans and make strategic retirement planning and financial planning in Ireland. Hire experts to receive the right pension advice services in Ireland.
How Do I Trace My Lost Pension?
There are three ways you can trace your lost pension:
Option 1
Free Tracing Services
The Irish Government offers a free tracing service where you can locate the details for the administrator of your pension, even if you don’t remember the specific provider.
Option 2
Pension Advisory Service
You can seek various previous pensions advice Ireland from expert pensionary services like Money Maximising Advisors Limited. Even if you have a complex situation, we will do our extensive research and help you find your lost pension and claim it the right way.
Option 3
Do It Yourself
If you are someone who likes the DIY approach, this is how you do it:
- Gather Information: Gather any documents, such as old pay slips, pension statements or other documents, that may mention your pension provider or contributions.
- Contact Old Employers: You can also contact the HR department of your previous employers. You might be able to find records about the pension plan you were part of.
- Search Public Resources: Revenue Commissioners Ireland maintains a list of occupational pension plans [Irish Revenue]. You can’t look up individual accounts but it may give you some leads on possible providers depending on your work history.
What Information Do I Need To Trace My Previous Pension?
Seeking previous pension information can be a bit complicated. Contact our pensions Ireland experts to assist you in finding a lost pension. We will guide you, even with limited information, as we have close ties with Ireland’s pension providers.
- You’ll require the following details:
- Your entire name, birthdate, and PPS number
- Your address (optional) at the time of the pension
- The businesses you were employed by and how long you were there
After obtaining these data, arrange a callback with a consultant.
After I Trace My Pension, Can I Cash It In?
The rules in the insurance policy and your age will determine whether the pension is mature and eligible for cash payments. If you’re over 50, you can withdraw tax-free a certain percentage of the value of a pension based on a defined contribution.
It’s vital to understand the rules of your scheme in order to guarantee this outcome. Our pension advisers will help you determine whether cashing out your pension will be the right option for you.
Get in touch with us and get the right previous pensions advice Ireland today!
Talk to us at +353 91 393 125
Mail us at office@mmadvisors.ie
Visit our office at Unit 3, Office 6, Liosban Business Park, Tuam Rd, Galway, Ireland
Related Terms- Previous Defined Benefit Pension in Ireland: What is a Defined Contribution Pension Ireland?
