To top up your pension with a single lump sum payment you can pay via Electronic Fund Transfer (EFT). This securely transfers payment directly from your bank account and may take between 3 and 5 working days.

Irish Life Account Details

IBAN: IE79AIBK93338454073224

Swift Code: AIBKIED2D

Reference: Your Policy Number

 

You will need your 8-digit policy number to use as a payment reference so that we can apply the funds to your pension. Where you include this number depends on your bank:

AIB: "Receiver Message" field

Permanent TSB: "Reference" field

Bank of Ireland: "Reference" field

Ulster Bank: "Beneficiary Reference" field

KBC: "Reference" field

It's important to remember that transferring a pension may not be the best option for everyone, and that there can be potential risks and costs involved. It's important that you speak to a financial advisor before making any decisions.

If you have decided to transfer your pension, you should contact your current pension provider and inform them of the decision. They can then provide you with the necessary forms and information, as well as inform you of any penalties, charges, or restrictions involved. Your financial broker or advisor can help guide you through the process and provide you with an overview of the options available to you.

Generally the answer is yes, but this depends on the terms of your pension arrangement. Be sure to understand the implications of pausing pension contributions: this can impact your retirement savings, future pension benefits, and tax advantages. Before pausing your contributions, you should discuss your decision with a financial advisor.

Occupational (employer) scheme

If you are contributing to an employer pension scheme, you will need to check the rules of that scheme. Some allow for temporary pauses under certain circumstances such as a career break.

Personal Retirement Savings Account (PRSA)

With a PRSA, you have the flexibility to increase, decrease or pause your contributions .   Your financial broker or advisor can help you with this. Alternatively, you can get in touch with a member of our contact centre team who can assist you.

You can change the funds in which your pension is invested by logging in and selecting ‘Fund Switch’ from the available options. 

Remember that as with any investment, your pension can go down as well as up . It’s best to discuss your pension investment strategy with a financial broker or advisor before making any decisions, so that you can make sure your pension is aligned with your goals and risk appetite.