Compare pensions
| Synergy Executive pension | Synergy Personal pension | Synergy PRSA | Synergy PRSA AVC | Synergy Buy Out Bond | |
|---|---|---|---|---|---|
| Can I apply for this policy? | Your employer must set up the policy for you and appoint trustees |
Yes, if you are self employed or not in your employer's company pension scheme |
Yes, if you are under age 75 |
Yes, if you are in your employer's company pension scheme |
Yes, if you are transferring from another buy out bond. If you are in a company pension scheme and you are leaving it or it's winding up, the trustees apply |
| Can I make contributions? | Yes |
Yes |
Yes |
Yes |
No |
| I have other pension funds. Can I transfer them into this policy? |
Yes, from PRSAs, AVC PRSAs, buy out bonds and other company pension schemes |
Yes, from other personal pensions |
Yes, from personal pensions and other PRSAs. Also from company pension schemes if you have pensionable service of 15 years or less |
Yes, from AVCs from the same employment. |
Yes, from company pension schemes and other buy out bonds. Each transfer payment is a new policy |
| What's the maximum pension I'm allowed? | Two-thirds of final salary (assuming 10 years pensionable service) |
Limited by the value of your policy and the cost of buying your pension |
Limited by the value of your policy and the cost of buying your pension |
Included in maximum allowed for company pensions |
Two-thirds of final salary (assuming 10 years pensionable service) |
| What's the maximum cash lump sum I'm allowed when I retire? | If you choose annuity option: 1.5 times final salary (assuming 20 years pensionable service) |
25% of your policy value |
25% of your policy value |
Included in maximum allowed for company pensions |
If you choose annuity option: 1.5 times final salary (assuming 20 years pensionable service) |
| When can I take my pension? | Between age 60 and 70 |
Between age 60 and 75 |
Between age 60 and 75 |
At the same time as your company pension |
Between age 60 and 70 |
| Can I take my pension earlier? | Yes, from age 50 with your employer's and trustees' agreement |
No, but exception made for special occupations |
Yes, from age 50, if employee, or have a special occupation. |
Yes, at the same time as your company pension |
Yes, from age 50, if not related to your current employment |
| What does my family get if I die before I take my pension? | Your policy value (but there are restrictions on how the benefits can be paid). |
Your policy value |
Your policy value |
Your policy value |
Your policy value |
Laws and tax rules may change in the future. The information here is based on our understanding of the situation in June 2011.
This is a brief comparison. Ask your Financial Adviser for more information.
Warning: The value of this investment may go down as well as up
Warning: This investment may be affected by changes in currency exchange rates
Warning: The income from this investment may go down as well as up
