When an individual who was a member of an occupational pension scheme leaves service with an employer they may have the option of transferring their benefits to a buy out bond.
A buy out bond is like a single premium pension plan in the individual’s own name, which can only be used to provide retirement benefits, subject to same restrictions as would apply under a retirement benefit scheme.
Grant Thornton Financial Counselling Limited is the Financial Planning arm of the Grant Thornton practice in Ireland and has offices in Dublin and in Limerick.
Grant Thornton Financial Counselling Limited is regulated by The Central Bank of Ireland. Registered office: 24-26 City Quay, Dublin 2. Company registration no. 102489.
Grant Thornton is authorised by The Institute of Chartered Accountants in Ireland to conduct investment business under the Investment Intermediaries Act 1995.