A job is no longer for life which means that most clients have pensions from previous jobs scattered around which they do not have a full handle on with most being left idle without proper management. These pensions should be an integral part to your overall financial plan and should all be working in unison to achieve your retirement goals.


What is a Personal Retirement Bond?

A Personal Retirement Bond (also known as a Buy Out Bond) is an individual pension bond established in your name. You can transfer your pension benefits into the bond if you leave a company pension or if your company pension scheme is shut down which gives you control of how these funds are invested.


How does it work?

  • Your transfer value amount is transferred from your pension scheme into a PRB
  • The money is invested in a fund chosen by you – or, if you make no choice, in the PRB's default fund
  • No new contributions can be made to the PRB
  • The value of your PRB will rise or fall depending on fund performance
  • At retirement you will be able to take your benefits from the PRB. Options may include a Retirement Lump Sum, an income for life (annuity), a taxable lump sum and an Approved Retirement Fund


When can you Access your funds?

From the age of 50, you will be able to take early retirement benefits from your PRB. Note that the earlier you take your benefits, the lower your annual retirement income or lump sum benefits are likely to be.

Please note that PRB's can also be transferred to another PRB with a different life and pensions company or else transferred into a new company pension plan


What happens at retirement?

At retirement you can typically take a tax free Lump Sum from your PRB. The balance must typically be used to purchase a guaranteed income for life (annuity), though where the source of the PRB was a Defined Contribution pension scheme or where Additional Voluntary Contributions were made it may also be possible to transfer the balance after the Retirement Lump Sum is taken to an Approved Retirement Fund (ARF) or Approved Minimum Retirement Fund.


Want to find out more?

Contact us for advice on whether a PRB is the right option for you, which PRB to choose, or to set up a meeting with one of our advisors where we can look at your overall retirement structure and ensure that all your pension funding is working for you to reach your desired retirement.


The Central Bank does not regulate Tax Advice, Qualified Recognised Overseas Pension Schemes or Estate Planning.

The value of investments and the income derived from them can fall as well as rise. You may not get back what you invest.


OpesFidelio Ireland Ltd
12, Parklands Office Park
Southern Cross Road
Bray, County Wicklow

Tel: +353 (0)1 272 4130
Email: adminireland@opesfidelio.ie

We are conveniently located on the Southern Cross Road between Bray and Greystones which can be accessed via junction 7 of the N11.

This is ideal for servicing clients from the surrounding South Dublin, Wicklow and greater Leinster areas.



Our office is situated 20kms south of Dublin, just beyond Bray in Co. Wicklow. Take the M50 southbound onto the N11 then take Exit 7, the Bray/Greystones exit and follow signs to Greystones. We are on the right near the end of the Southern Cross road leading from the N11 to the Greystones Rd.


OpesFidelio Financial Planning Ltd is regulated by the Central Bank of Ireland.

OpesFidelio Financial Planning Ltd (Company No 456044) is a wholly owned subsidiary of OpesFidelio Ireland Ltd (Company No 158916).

OpesFidelio is a trademark used under licence.