A Personal Retirement Bond (also known as a Buy Out Bond) is an individual pension bond established in your name. You can transfer your pension benefits into the bond if you leave a company pension or if your company pension scheme is shut down.
It is usually established by the trustees of your existing pension scheme and its aim is to put you in control of your pension benefits. The value of your pension benefits at the date you leave your current pension scheme will be transferred into the PRB. A self administered PRB allows you to have control over where these funds are invested.
Any employee or former employee can set up a PRB where:
The Harvest Financial Services Limited’s PRB enables you to take control of your existing employment related pension benefits and invest them in a way that suits your risk appetite.
A PRB is specifically set up to accept benefits from a company pension scheme which you are no longer a member of or which relates to an employment which has ceased. You are not permitted to make contributions to the PRB, however, you can invest the funds as you would in a regular pension product and access it in the same way when you decide to retire.
The investment choice is ultimately down to you. Some of the assets clients invest in are:
At retirement, there are generally two options available:
Harvest Financial Services Limited has been providing self-administered pension solutions to clients since 1993. We oversee approximately €1 billion assets on behalf of our clients who are pension funds, private individuals, corporations and charities. (figure correct as at November 2017).
Whether you want the investment flexibility and / or the cost transparency of a self administered PRB, we will work with you to maximize the benefits of the PRB to secure your income in retirement. For more information, or to arrange a meeting to discuss the suitability of the PRB for your retirement provision needs, please contact us on 01 2375500 or email firstname.lastname@example.org.
Warnings: If you invest in this product you may lose some or all of the money you invest. If you invest in this product you will not have any access to your money until you retire. The value of your investment my go down as well as up.
The legislative information contained herein is based on Harvest Financial Services Limited’s understanding of current practice as at October 2015 and may change in the future.
Please take special care to satisfy yourself that this arrangement meets your needs. Please make sure that you are aware of the financial consequences of replacing your existing arrangement and the possible financial loss as a result of the transfer. Please note that transfers to circumvent Revenue rules are not permissible. Please contact your financial advisor if you are in doubt about any of this. The material is not intended to provide advice and is provided for general information purposes only.
The product and/or services described herein are not violable for distribution to, or investment by, US residents or citizens. The product and / or services may not be directly or indirectly offered or sold to the USA or any of its territories or possessions or areas subject to its jurisdiction or to or for the benefit of a US person.
Please note that the provision of this product or service does not require licensing, authorisation, or registration with the Central Bank of Ireland and, as a result, it is not covered by the Central Bank’s requirements designed to protect consumers or by a statutory compensation scheme.