Ask About Wealth The Future of Irish Pensions: Auto-Enrolment, Property & PRSAs
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Nov 19, 2025 Aidan McLoughlin, Group Managing Director of ITC and a pensions expert, shares insights on crucial changes in Irish pensions. He discusses the recent Revenue rule change that limits pension transfers after normal retirement age, warning of potential lost benefits. Aidan emphasizes the need for independent financial advice and highlights the advantages of using PRSAs for phased retirement. The conversation also covers the implications of proposed restrictions on property investments within pensions and the nuances of auto-enrolment mechanics.
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Act Before Normal Retirement Age
- If you are in an occupational (DB) pension scheme, get independent financial advice before you hit Normal Retirement Age (NRA).
- Act early and complete any transfers prior to NRA because Revenue changed rules stopping transfers after NRA on Aug 15.
Complete Transfers Early
- Don't wait until your NRA to finalise transfer paperwork; start advice and transfer well before the date.
- Aidan warns many who intended to transfer were caught mid-process by the rule change.
Phase Lump Sums With Multiple PRSAs
- Consider splitting a large transfer into multiple PRSAs to phase lump-sum access and preserve tax-free growth.
- Use multiple PRSAs to stagger lump sums and delay accessing parts of the fund for future needs.