Refund of member contributions
In certain circumstances you may be eligible to take a refund of contributions paid into a pension arrangement.
Your entitlement to a refund of contributions depends on the type of pension arrangement you have and the rules attaching to refunds of contributions.
If you are a member of a pension scheme, you may be obliged, if you have less than two years’ qualifying service (broadly service as a member of the scheme) when you leave service to take a refund of the value of your own contributions less tax at the basic rate.
Some schemes may permit you to leave your contributions in the scheme, even though they are not required to do so by law. Additional voluntary contributions are treated in the same way as main scheme benefits.
Even if you are not obliged to take a refund of contributions and you have less than two years’ qualifying service, you may still choose to do so.
Personal retirement savings account (PRSA) providers can pay a refund if you haven’t contributed for two years and have a PRSA worth less than €650 and were given three months’ written notice to terminate the PRSA.