Global firm Momentum Pensions is supporting Irish expats around the world by extending its offering to facilitate transfers from Irish pension schemes, International Adviser can reveal.
The proposition aims to “deliver flexibility around retirement planning in a currency and jurisdiction that suits their needs” and it will be suitable for Irish expats or individuals with Irish pension schemes intending on retiring overseas.
Momentum’s offering has been developed fully in-house and supported by a senior team of Irish expats, alongside managing director Susan Brooks, a chartered tax adviser with the Irish Tax Institute, and a member of the Irish Institute of Pensions Management.
Transferring an Irish pension to a Momentum scheme enables expats to take advice from an independent financial adviser in the country where they live on how to achieve their retirement goals.
There are more than 500,000 Irish expats estimated to live overseas.
Demand
The proposition around Irish transfers enables members to manage their currency risks on investing and when taking retirement benefits.
In addition, it provides access to a wider range of investment options and discretionary fund managers and offers the possibility to consolidate existing Irish, UK and Qrops pension benefits into one Momentum scheme.
Brooks said: “Momentum has supported thousands of expatriates and international clients all over the world, offering regulated pension schemes across different jurisdictions.
“We’ve seen a growing demand for solutions for Irish expats and individuals who previously worked in Ireland and now reside permanently overseas.
“Leveraging our in-house experience and expertise, we’ve been able to develop and tailor our proposition for Irish transfers to address the demand and help advisers support more Irish expats around the world.”
