Transferring an Employer Pension to a Personal Retirement Bond

Transferring Your Pension to a Personal Retirement Bond (PRB) in Ireland

When you leave a job, one of the options for your pension is to transfer it to a Personal Retirement Bond (PRB) — also known as a Buy-Out Bond. This guide explains what a PRB is, when it makes sense, and what to check before committing to a transfer.

For a full overview of what a PRB is and whether it suits your situation, see our Personal Retirement Bond service page.

PRB vs Other Options

When you leave a pension scheme, a PRB is one of several options. The others typically include leaving the pension in the current scheme as a deferred member, transferring to your new employer’s scheme, or transferring to a PRSA.

Each has different implications for charges, investment flexibility, and control. Your Leaving Service Options letter should set out what is available to you.

Get Your Pension Reviewed Before You Transfer

A Smart Financial consultation covers your old scheme documents, the options available, and a clear recommendation on whether transferring makes sense for your situation. If a transfer to a PRB is right for you, see our Personal Retirement Bond page for full details on how we help with the process.