Personal Retirement Bonds

For people exiting their previous employers' group pension scheme, now seeking control of fund choice and cost.

Private Pensions

Personal Retirement Bonds

A Personal Retirement Bonds, also known as a PRB or Buy Out Bond, is a private, single payment pension plan, suited to people exiting their previous employers' group pension scheme.

Private Pensions

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 name of the PRB holder and you can instruct the scheme trustees to sign off a provider application that you choose.

Not all PRB’s are the same however, and when it comes to investment fund choice, fund performance, and of course associated costs, you’re always best to choose a financial broker for best value independent advice.

Through our financial brokerage, your PRB consultation is free and includes personal investment risk profiling with the broadest market choice, coupled with the lowest charges, regular reviews and online access

Personal Retirement Bond - PRB Option

Private Pensions

Setting up a PRB

There are several ways to best set up your PRB, dependent on your personal circumstances. Our job is to provide the best Pension advice, offering the broadest range of investment choices, with a minimum cost aligned to your personal investment risk Profile and ESG preferences.

When arranging your pension plan you need to be fully aware of the underlying costs involved, as well as choosing the right investment funds and strategy to grow your pension fund over time, with easy access and regular updates. At One Quote Financial Brokers, our leading PRB offerings include:

Personal Retirement Bonds
Personal Pension Benefits at retirement

Private Pensions

PRBs at Retirement

When leaving a job and taking your pension plan benefits, by transferring them into a PRB, you are effectively taking the control of future investment decisions, reducing the management costs, and leaving your bond to continue to grow.

At retirement, there are generally two options available:

Questions & Answers

Personal Retirement Bonds - FAQ's

All you need to know in regards to your personal retirement bonds.

A Personal Retirement Bond is a single premium pension policy designed to receive a lump sum payment from your former employer’s occupational pension scheme. The monies are invested and continue to accrue investment returns with fund access allowable from age 50 onwards.

You have 4 options:

  1. Retaining your benefits with the scheme – this means the funds will remain invested and you can normally claim at any age from 60.
  2. Transferring your benefits to a new employer’s Occupational Pension Scheme – you can opt to transfer the value of your fund into your new employer’s pension scheme (if applicable).
  3. Transfer benefits to a Personal Retirement Bond – A Personal Retirement Bond (PRB), which is also sometimes known as a Buy-Out-Bond, 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 name of the PRB holder. When a member leaves a pension scheme, 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.
  4. Transfer to a PRSA – If the value of your pension is greater than €10,000 you will be required to pay for a Certificate of Comparison showing the pros and cons of transfer to a PRSA. A Certificate of Comparison can typically cost anything between €500 and €2,000 depending on the circumstances. A Certificate of Comparison is not required if the pension scheme is winding up.

A Personal Retirement Bond is available to individuals who hold retained benefits in an occupational pension scheme from previous employment (excluding employer-sponsored PRSAs), or from a pension scheme that is winding up.

The trustees of your previous employer’s pension scheme will set out your leaving service pension options. When choosing a PRB, you return this as your chosen option and complete a PRB application through your broker. Your broker then sends this PRB to the trustees to get their signatures prior to set up.

No. A Personal Retirement Bond is a single premium account that is designed solely to accept a transfer from an occupational pension scheme. No further contributions can be made.

In the event of your death, before you take benefits from the Personal Retirement Bond, the full value of your portfolio at the date of payment will be transferred to your estate.

With us, there is no consultation or set-up charge and 100% of your money is invested. The average annual investment management charge starts from 0.75% PA, and totals 1.00% PA (but may be less for particularly large transfers) for our ongoing service, which includes online access and annual investment reviews.


Our Google Reviews

Our client feedback through reviews.

Cillian Dickson
Superb choice
Read More
Looking after my executive pension plan, One Quote provide superb choice and value with online access and annual reviews to keep track. They represent a solid choice of broker.
Paul Hollins
Highly Recommend
Read More
I have my Executive Pension with One Quote and choose them based on investment fund choice, flexibility, competitive charges and service. Very happy to recommend.
Simon Finnegan
Great Service
Read More
One Quote took the time to understand my needs as a contractor and explained my options in detail. I chose them based on the detail provided, low-cost, service and flexibility.
Christine Coffey
Friendly service
Read More
As a company owner, I have One Quote looking after my pension planning needs. Their service is prompt, friendly and very cost competitive. I have no hesitation in recommending them.

Get in touch

Let's Talk

Schedule your free consultation right now.