Do you have an Executive Pension which was established before April 2021? If so your pension has a special derogation which excludes it from the requirements of IORPS II legislation however this derogation will run out in April 2026.
At some point prior to April 2026 your pension must be wound up and moved to a PRSA or a Master Trust.
Now may be a good time to have your pension reviewed;
- See what your options are for avoiding IORPS II
- Get a second opinion on your investment strategy
- Check if you are on course to have the income you need in retirement
If you don’t do this proactively your pension will be moved by your pension company to their PRSA or Master Trust solution.
As part of this review you can choose the solution for your future retirement planning needs.
The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The above post does not include all the considerations which are relevant to the topic discussed as to do so would render the post un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.
© Highfield Financial Planning 4 July 2023
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