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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 (before you are 70) and appoint trustees

Yes, if you are self employed (and under age 75) 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 or personal retirement bond (before age 70). 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 cash lump sum I'm allowed when I retire?

If you choose annuity option: 1.5 times final salary (assuming 20 years pensionable service to Normal Retirement Age) If you choose ARF option: 25% of your policy value

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 to Normal Retirement Age) If you choose ARF option: 25% of your policy value
What's the tax on the cash lump sum I take?

The first €200,000 will be tax free, the next €300,000 will be taxed at 20%, anything more than €500,000 will be treated as your income and taxed under the PAYE system.

The first €200,000 will be tax free, the next €300,000 will be taxed at 20%, anything more than €500,000 will be treated as your income and taxed under the PAYE system.

The first €200,000 will be tax free, the next €300,000 will be taxed at 20%, anything more than €500,000 will be treated as your income and taxed under the PAYE system.

The first €200,000 will be tax free, the next €300,000 will be taxed at 20%, anything more than €500,000 will be treated as your income and taxed under the PAYE system.

The first €200,000 will be tax free, the next €300,000 will be taxed at 20%, anything more than €500,000 will be treated as your income and taxed under the PAYE system.

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 you're an 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
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)
 

Laws and tax rules may change in the future. The information here is based on our understanding in July 2017. Your personal circumstances also have an impact on tax treatment.

This is a brief comparison. Ask your financial adviser for more information.