Personal Retirement Bonds

A Personal Retirement Bond (PRB) is used by the trustees of a pension scheme to buy retirement benefits for former members of their pension scheme. A PRB is a personal policy in the member’s name. The value of their fund when they leave the pension scheme is invested in the bond. When they retire, they can then use the proceeds of the PRB to provide retirement benefits.

A PRB can be used:

• When the member leaves employment
• When the member leaves the pension scheme (and remains in the company’s employment)
• For large scale withdrawals, such as those arising from redundancy programmes
  The choices available to the member, and the value of pension benefits will depend on the scheme rules.

What are the advantages of a Personal Retirement Bond?

• The member can make a clean break from their old employer’s pension scheme
• The member can choose from a wide range of investment options to meet their needs
• The member receives clear information on their entitlements on an annual basis

Once again Wexford Financial Services Ltd. can point to the fact that we have agencies with all the major providers of PRBs in the marketplace enabling a better deal for our clients.

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