Rates last updated: 29 October 2026 · How we verify
Can You Transfer Your Irish Pension Abroad?
Sometimes. Irish rules allow a company pension, Personal Retirement Bond or PRSA to move to a pension abroad if the provider is satisfied the transfer is genuine and the receiving scheme pays real retirement benefits. Public sector pensions and My Future Fund cannot move. For most people under 50 who don't know where they will retire, leaving the pension in Ireland is the safer choice.
- Funded private Irish pensions — company schemes, PRBs and PRSAs — can be transferred abroad, subject to conditions; unfunded public sector pensions and My Future Fund cannot.
- A transfer usually makes sense only when you are sure where you will retire and the move cuts tax or cost there.
- Once moved, bringing the money back to Ireland is slow and difficult — treat a transfer as irreversible.
Thinking about moving your pension? Message us on WhatsApp and we'll walk you through your options and what each one means for tax in your new country — free and without obligation.
Which Irish pensions can be transferred abroad?
- Funded private Irish pensions can be transferred abroad, subject to conditions; unfunded State and public sector pensions cannot.
- A PRB is often the most practical route: many people move a company pension into a PRB first.
- My Future Fund stays in the State scheme and is payable from State Pension age, currently 66.
| Pension type | Transfer abroad? | Condition or catch |
|---|---|---|
| Company (occupational) pension | Possible | Trustees must accept the receiving scheme; some scheme rules only allow transfers to Irish products. |
| Personal Retirement Bond (PRB) | Possible | Often the most practical route; many people move a company pension into a PRB first. |
| PRSA | Possible, harder | The provider decides whether conditions are met and can refuse; expect more paperwork. |
| Retirement Annuity Contract (RAC) | Difficult | Usually has to move into a PRSA before any onward transfer. |
| Unfunded public sector pension | No | Paid by the State; you can receive it abroad but cannot move it. |
| My Future Fund | No | Stays in the State scheme; payable from State Pension age, currently 66. |
What conditions must an overseas transfer meet?
- The transfer must be bona fide, the receiving scheme must provide "relevant benefits" under Irish tax law, and benefits usually must not have started.
- Transfers designed to get around Irish pension tax rules can lead to approval being withdrawn, with significant consequences for the member.
- You sign a bona fide declaration. You declare the transfer is genuine and not mainly to get around Irish pension tax rules — the test set by the Occupational Pension Schemes and PRSA (Overseas Transfer Payments) Regulations 2003.
- The receiving scheme must pay real retirement benefits. It must provide benefits that qualify as "relevant benefits" under section 770(1) of the Taxes Consolidation Act 1997 (Revenue Pensions Manual, chapter 13).
- Benefits usually must not have started. Once you have begun drawing the pension, a transfer abroad is generally no longer possible.
When does a transfer make sense, and when should you stay put?
- A transfer usually makes sense only when you are sure where you will retire and the move cuts tax or cost there.
- Staying put is usually safer when your destination is uncertain, the pot is small, or the pension is defined benefit.
| Situation | Usually | Why |
|---|---|---|
| You will retire in a country with its own suitable scheme and plan to draw income there | Consider transfer | Avoids Irish tax at source on ARF and vested PRSA withdrawals, and removes currency risk. |
| You don't know where you will retire | Stay | A transfer locks the pot into one country's rules; you may move again. |
| Small pot | Stay | Entry, exit and advice fees take a large share of a small pot. |
| Defined benefit (guaranteed income) pension | Stay, get specialist advice | A transfer swaps a guaranteed income for an invested pot. |
| You might return to Ireland | Stay | Moving the money back later is slow and uncertain. |
How does a transfer work in practice?
- An overseas pension transfer usually takes several months and five steps, and the Irish provider has the final say.
- Cross-border transfers commonly take months, not weeks — start before you leave if you can.
- Ask your Irish provider or trustees for a transfer value and their overseas transfer forms.
- Find a receiving scheme in your new country that accepts Irish transfers, and get that in writing.
- Compare annual charges, fund choice and access age in both schemes.
- Sign the bona fide declaration and submit the forms.
- Track the transfer; cross-border transfers commonly take months, not weeks.
What are the common traps?
- Commission-led advice, hidden costs and irreversibility are the three traps that cost transferred pensions the most.
- Ask in writing how any adviser is paid before you sign anything.
- Commission-led advice: cross-border transfers attract advisers paid on commission. Ask in writing how the adviser is paid before you sign.
- Hidden costs: exit charges, entry charges, currency conversion and higher annual fees can outweigh any tax gain.
- Irreversibility: once moved, bringing the money back to Ireland is difficult.
- Not deciding is also a decision: if you leave the pot in Ireland, check its fees and fund — our guide to leaving Ireland with a pension covers what to do before you go.
Questions we get asked
Can I transfer my PRSA to another EU country?
Possibly. Your PRSA provider must be satisfied the transfer is bona fide and the receiving scheme pays relevant benefits. Providers can refuse if conditions are not met.
Can I cash out my Irish pension when I leave Ireland?
Generally no. Only members with under 2 years in a company scheme may get a refund of their own contributions, minus tax. Other pensions stay invested until the access age — see leaving Ireland with a pension.
Can I transfer my Irish pension to a UK SIPP or a Malta scheme?
Some advisers offer this, mainly to avoid Irish tax at source on withdrawals. It must still meet the Irish overseas transfer conditions, and it carries costs and rules of its own. Get independent advice.
How long does an overseas pension transfer take?
Usually several months, depending on both providers and how quickly forms and confirmations are exchanged.