In 2012, the Revenue Commissioners issued a new requirement in relation to pensions. Having witnessed a spike in the number if Irish pensions being transferred overseas, the Irish tax authority demanded that it be notified of any international pension transfer. Many pension transfers are entirely legitimate. A beneficiary may be moving to another country, or not have an Irish domicile. However, Revenue identified that a significant number of pensions were being transferred to Malta, the Mediterranean archipelago. With a population of less than 500,000, Malta allows pension savers to draw down benefits from the age of 50, offers reduced tax…

Want to read the full story?

Unlock this article – and everything else on The Currency – with an annual membership and receive a free Samsonite Upscape suitcase, retailing at €235, delivered to your door.

Subscribe

Cancel at any time.

Are you already a member? .