<\/p>\n
\n Published:
\n Sun 21 Dec 2025, 10:55 AM\n <\/p>\n
A Mayo TD has welcomed a significant reversal by Revenue that restores pension flexibility for thousands of workers and retirees across Ireland, including many in Mayo.<\/p>\n
In August 2025, Revenue quietly updated its pensions manual to remove the ability for individuals over the age of 65 to take a transfer value from their occupational pension scheme.<\/p>\n
This change, introduced without consultation, negatively affected thousands of people across the country.<\/p>\n
Deputy Paul Lawless explained: “I have been actively campaigning on this issue for months, engaging extensively with Revenue and advocating for constituents in Mayo who were directly affected by the restriction.<\/p>\n
“Under the August update, anyone over 65 who had not yet drawn their pension was blocked from transferring their benefits to a Personal Retirement Bond or similar arrangement.<\/p>\n
“This restriction forced some employees to consider resigning early to preserve their transfer option.<\/p>\n
Deputy Lawless continued: “Revenue has now reversed this controversial rule. Individuals over 65 can once again take a transfer value, provided benefits have not yet been paid. This decision restores flexibility and fairness for thousands of people across Ireland.<\/p>\n
“This is a huge win for thousands of people in Mayo working in the private sector who have occupational pensions.<\/p>\n
“Certain occupational pension schemes mean the pension disappears if the individual dies. The restored transfer option allows people to move their pension pot into a product that ensures benefits can pass to family members.<\/p>\n
“Moreover, many employees are now working beyond 65. This change means workers can stay on without losing the ability to transfer their pension when they choose.<\/p>\n
“Transfer values give individuals ownership of their pension assets, allowing them to invest and manage their retirement funds in a way that suits their needs.<\/p>\n
“I have campaigned hard for this change because it matters deeply to people in Mayo and across Ireland.<\/p>\n
“Workers deserve the freedom to manage their pension assets, protect their families, and plan for the future. Revenue\u2019s reversal is a victory for fairness and common sense.”<\/p>\n
\n Published:
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