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Redundancy and Your Pension — Know Your Rights, Maximise Your Options
If you’ve been made redundant, your pension entitlements may be one of your biggest financial concerns. Whether you’ve spent years building up a company pension or only joined recently, it’s important to understand your options and make decisions that protect your long-term security. We’ll guide you through your rights, help you access benefits where possible, and structure your pension for maximum flexibility and value.
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Get expert advice on your pension options after redundancy. Leave your details and a qualified advisor will be in touch.
What Our Clients Say
Who This Pension & Redundancy Support Is For
This service is ideal for anyone in Ireland who is going through the redundancy process now or has been made redundant previously and wants to understand what happens to their workplace pension. It’s especially useful if you:
Are navigating present redundancy concerns
Were a member of a company pension scheme (defined benefit or defined contribution)
Have questions about leaving your pension where it is or moving it elsewhere
Want to explore whether a Buy Out Bond or PRSA is more suitable
Need help accessing benefits after redundancy (especially from age 50)
Want to make sure you don’t lose out on your tax-free pension lump sum
Prefer expert, impartial advice before making any decisions
Made redundant recently or reviewing your pension options after a career change? We’ll help you take control of your retirement savings and avoid costly mistakes.
Not sure what to do if you’ve been made redundant? Start with a no obligation consultation.
What Happens to Your Pension After Redundancy?
Once you’re made redundant, both you and your employer stop contributing to the company pension scheme. But what happens next depends on your circumstances, including the type of scheme you were in, your length of service, and your age. In general, you’ll have four main options:
Each option has pros and cons, depending on your goals. We’ll walk you through them clearly so you can make an informed decision for your future.
Leave your pension in the existing scheme and access it at retirement
Transfer it into a new employer’s scheme (if applicable)
Move it into a Buy Out Bond (also known as a Personal Retirement Bond)
Transfer it to a PRSA (subject to restrictions, especially for DB members)
Start With a Consultation
Get clear advice on your pension options and next steps.
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How We Help You Manage Your Pension After Redundancy
We make it simple to understand your pension position and take action if it makes sense for you.
Step 1: Book a Quick Call
We start by discussing your redundancy, your pension scheme, your service history, and your financial priorities.
Step 2: We Gather the Details
With your consent, we contact your pension provider to request a full breakdown of your entitlements and transfer options.
Step 3: You Get Straightforward Advice
We explain your rights, outline the options available, and help you weigh the pros and cons of leaving your pension where it is or moving it elsewhere.
Step 4: You Decide What Happens Next
If you want to move forward, we handle the paperwork and coordinate the transfer so your pension is ready for what comes next.
Why Understanding Pension After Redundancy Is So Important
Redundancy doesn’t mean starting over. It can be a chance to take real ownership of your financial future. A pension review can help you:
Avoid Leaving Benefits Behind
Old pensions can get forgotten or mismanaged if left untouched.
Maximise Your Tax-Free Lump Sum
Coordinating your pension and redundancy tax strategies can make a big difference, especially with the €200,000 lifetime cap on tax-free lump sums.
Protect Your Retirement Security
With many defined benefit schemes underfunded, securing your value now may prevent losses later.
Consolidate and Simplify
One clear strategy, in your name, under your control, not scattered across old employers and schemes.
Let’s make the most of your pension after redundancy — Book a call
Talk to Our Team About Redundancy Pension Options
If you’ve recently been made redundant or expect to be, your pension should be one of your first priorities. We’ll help you understand your entitlements, avoid unnecessary taxes, and create a plan that gives you control over your retirement savings.
Frequently Asked Questions About Redundancy and Pensions
What happens to my pension if I'm made redundant?
Your contributions stop, but your existing benefits remain. Depending on your service and scheme type, you may have the option to transfer or access them early.
Can I take my pension early after redundancy?
Yes, in many cases from age 50, especially if you transfer to a Buy Out Bond. Scheme rules and structure matter.
What is a Buy Out Bond and should I consider one?
It’s a personal pension account that holds your benefits after leaving a company scheme. It gives you control, flexible access, and investment freedom.
Will I lose my pension if I was only in the scheme for a short time?
Not necessarily. If under two years’ service, you may still be entitled to a refund of your contributions, or more, depending on scheme rules.
Can I combine old pensions into one place?
Yes, a Buy Out Bond or PRSA can consolidate previous schemes, making management easier and improving access.
What if my defined benefit scheme is underfunded?
You may receive a reduced transfer value, and early access could be restricted. It’s critical to understand the implications before acting.
How do you know which option suits my need?
We offer personalised advice based on your employment history, pension type, age, and retirement goals. Our aim is to help you make a confident, informed decision.
What Our Clients Say
Real feedback from clients who used this service
Mark Brady
I was contacted very quickly and spoke with Chris who was very knowledgable and gave me some great simple to understand advice, I would highly recommend this service to cut through the jargon and get clear understandable advice.
Speak with our experts
Contact Our Directors
Get personalised pension advice from our experienced team of qualified financial advisors.
Chris McKenzie
CFP® | SIA | QFA
Director
Chris Crowley
PgD | SIA | RPA | FPRA | QFA
Director
Our Core Priorities
The Client Comes First
We are a client focused business, we aim to understand your needs and objectives and deliver based on this. This is at the very core of our business – you are what matters most.
We are Qualified Experts
All our staff are qualified experts and have the technical knowledge and experience to handle all your pension related queries.
We are Real People
We are real people who are here to assist you. We have direct phone numbers and email addresses, and will deal with your enquiry from start to finish.
We are Always Professional in All That We Do
Professionalism is the minimum you can expect from us. We pride ourselves on this and we will deliver for you in a professional manner.
We are Here to Educate You
It is important to us that we educate you so you can make informed decisions. Before we do any business with you we will educate you as to why it is the right choice for you. We want you to understand the decisions you are making.