We understand that this is a worrying time for you and your family. We want to keep you informed and help you with any concerns you might have about your pension plan.
I’ve been financially impacted as a result of COVID-19, how can you help me to keep my pension plan?
We are here to support you with options to help you to keep your individual pension plan in place. If you think you might have a problem keeping up your pension contributions, please contact us by email at customerservice@irishlife.ie or call 01 704 1010.
I’m worried about my pension plan performance. What should I do now?
Headlines talking about markets dropping in value can be very distressing but it is important to remember that the vast majority of our customers are invested in mixed funds or multi-asset portfolios. These investments look to spread risk across a range of different asset types (cash, shares, property, government bonds etc.).
Past experience has shown that markets can recover over the long term and it is generally recommended to stay invested, unless you are due to retire now. However, if you are worried that your investment is now too high risk, or you will need to access your pension fund soon, we can discuss your options with you.
Everyone’s situation is different and that is why we are encouraging all of our concerned pension customers to talk to their financial adviser before making any decision about their pension fund. Contact us if you don’t have your advisers contact details.
How can I see the value of my pension fund?
You can see the value of your pension fund and the latest fund prices once you log on to our Online Services. You can also get the latest fund prices and performance information on our website – click here.
Part of my pension fund is invested in a property fund with a six-month notice period. How does this impact me claiming my pension plan?
The six-month notice period does not apply if you take your benefits at the normal retirement age for your plan. If you decide to defer taking benefits on your plan beyond your normal retirement age (for example you continue to work and do not need to draw your pension) the six-month period will not apply. The notice period will apply to early retirement claims.
For more information about the notice period – click here.
Will my tax-free lump sum and pension claim be processed during COVID-19?
If we have all the information we need to process your pension claim, we will process your claim as quickly as possible. If some information is needed, we will contact you
as soon as we can. However, during this time we are sorry that there may be some unavoidable delays in processing your claim.
| Warning: Past performance is not a reliable guide to future performance. |