Dáil Éireann Debate, Wednesday - 12 January 2011
264 Deputy Michael McGrath asked the Minister for Finance if a person leaving the civil or public service to take up a position in the private sector can transfer their pension contributions made as a civil or public servant to their new occupational pension scheme. [1064/11]
Amharc ar fhreagraThe vast majority of pension schemes in the Civil and Public Service are Defined Benefit (DB) schemes which are funded by the Exchequer on a ‘pay-as-you-go' basis. Unless it is required under the Family Law Acts, pension contributions or accrued pension benefits may not be transferred by a Civil or Public Servant to the private sector. On leaving the Civil or Public Service, accrued benefits are preserved for the individual until they reach normal preserved pension age.
