Holborn Assets

Holborn Assets is a leading international financial services company which has associations with the industry's leading institutions that bring together the investment expertise of a select group of international money management firms – all who are known throughout the industry for their experience and strong track records.

Why Transfer your Pension

In 2010 the Lisbon Treaty explored the free movement of money throughout the EU. This Treaty has opened up the concept of Irish Pension being transferred out of Ireland. Due to arrangements made between Ireland and the U.K, it is now possible for Irish and UK members to have free movement of their Pension funds offshore. Tax havens such as the Isle of Man and Guernsey are available amongst others. By moving your Pension Fund offshore, you can avail of the following:

  • Elimination of Tax Levy on funds
  • Elimination of Inheritance Tax to your Spouse and children
  • Increase in Tax Free lump sums (up to 30% and in some cases higher)
  • Wide range of Investment choices and flexibility which permits a full bespoke service
  • There is no requirement to ever purchase an annuity (Pension Income)
  • Move your money out of the Euro into a much more stable currency

As you are aware, there have been dramatic and unprecedented erosion of Pension Benefits in both the Public and Private Sectors in Ireland an the UK. We have also seen an alarming increase in the retirement ages across a number of countries in the EU and most notably in Ireland, now set at age 68.

The Irish Government is turning its attention to Private Wealth, choosing Pension Funds in particular to address these issues and at this moment, may very well be eroding your Pension Fund. Not taking advantage of the ability to move you Pension offshore could leave you subject to the following changes -

The main areas of concern are around but not limited to:

  • Government Levy on Pension Funds ( 0.6%) *possible increases
  • Inheritance Tax on Family
  • Taxation on Pension Incomes and taxed at source
  • Approved Retirement Funds (complicated rules and restrictions)
  • Pension Scheme Erosion in some cases as much as 64%
  • Limited fund choices and poor management
  • The Euro Zone breaking up and Ireland being placed into a tiered Europe possibly back to the Punt
  • Stealth taxes being introduced in budget 2012 that will further reduce the tax effectiveness of your Pension Fund

You will be affected by some, if not all of these changes. However, moving your funds offshore is an extremely specialised area, which we are happy to discuss with you in order for you to establish if this is the right move for you. Please contact us to speak with a qualified adviser.