Enhanced Transfer Value Specialists

We have helped over 2,000 people assess their Defined Benefit (DB) pension options

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Discuss Your Enhanced Transfer Value Options

We specialise in helping clients through the Enhanced Transfer Value Process.


We have helped clients who have worked for some of Ireland's largest companies

Have you been offered an Enhanced Transfer Value?

If so, you likely have a decision to make.

You may also be wondering why your former employer has made such an offer.

The main reason is that Defined Benefit schemes are costly to run and are being phased out by many companies.

Therefore, offering an Enhanced Transfer Value can be an attractive option for members while also reducing the scheme’s numbers and liabilities.

It also gives you the possibility of a higher value while potentially accessing a portion of your fund as a tax-free lump sum.

If you’d like to assess your options, you are welcome to contact our team.

Please note – Accessing 25% of your benefits tax-free is not guaranteed. Please speak to one of our team to assess your eligibility.

Assess My Eligibility

We contacted Pension Support Line as my wife and I had worked in the same employment and were both sent documentation about enhanced transfer values. After speaking with Eoin, we had a much clearer picture of what options were available to us we were both able to transfer to our own pension arrangements.

Peter & Joanne – Waterford

What is an Enhanced Transfer Value (ETV)?

An Enhanced Transfer Value (ETV) is offered to members as a once-off opportunity to transfer the value of their pension fund.

This is on enhanced terms, meaning the monetary amount offered may be increased as an incentive.

The member has the option to agree to this amount and transfer their pension arrangement. Furthermore, the ETV exercise grants the company and trustees an opportunity to de-risk the current pension scheme.

Process of accepting an Enhanced Transfer Value

Should you wish to accept an Enhanced Transfer Value, this will mean transferring to a separate pension arrangement.

The new pension arrangement is called a Personal Retirement Bond (PRB)

Once in this arrangement, the policy will be in your own name and you will have full control over your investment decisions. Transferring to a PRB will also give you the ability to:

  • Access 25% of your pension benefits tax-free
  • Use the remaining 75% to purchase an annuity or Approved Retirement Fund (ARF)
Assess Your ETV Options

Enhanced Transfer Value Calculation | Example

The percentage (%) of the enhancement you have been offered will vary depending on your situation.

This Enhanced Transfer Value is what members are offered to trade in their Defined Benefit (DB) pension arrangement.

Below is an example of  how the process may work. In this example we have used an 20% enhancement.

Enhanced Transfer Value - Explained - 2022
Enhanced Transfer Value - Example mobile
Original Value Enhancement Percentage (%) Enhanced Transfer Value Offered
€200,000 20% €240,000

In some cases, the percentage may be higher or lower. If you have received an offer and are unsure, feel free to ask us any questions you may have.

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Expert Tip

Do not assume that your employer has all your personal information correct. Were you married during your service? Ensure these details have been updated.

If these details are incorrect it could potentially affect your Enhanced Transfer Value.

Benefits of accepting an Enhanced Transfer Value

There are several benefits associated with accepting an Enhanced Transfer Value. Some include:

  • Potentially access 25% of your benefits tax-free.
  • You may be eligible to access your benefits from age 50.
  • Transferring your benefits to a policy in your own name will give you control over investment decisions.
  • Access to a higher tax-free lump sum.
  • Benefits may be easier to inherit.
  • Accepting an Enhanced Transfer Value may be suitable due to health, financial or other circumstances.

We have written another blog regarding the benefits of transferring if you would like a more detailed answer

Drawbacks of accepting an Enhanced Transfer Value

Some of the drawbacks of accepting an Enhanced Transfer Value include:

  • Your income is no longer a guaranteed amount.
  • After investing your remaining funds, they are at the risk of the market and may drop.
  • The decision to transfer out cannot be reversed.
  • Often you have a short timeframe to make your decision.

As we see above, there are pros and cons to each decision. Take time, and decide on what suits your personal situation best.

If you are unsure of what option suits you best, we offer a complimentary consultation.

Book My Consultation

What to do next?

Unfortunately, there is no one-size-fits-all answer when it comes to pensions. Particularly with Enhanced Transfer Values.

Each situation is different as much will depend on the enhancement being offered and the scheme your benefits are currently in.

Transferring out may or may not be the best option. Without knowing specifics it is impossible to assess which route you should take.

It is, for this reason, we offer a complimentary consultation on these services. It gives you a chance to ask any questions you may have and the advisor a chance to discuss potential options.

We are currently quite busy (thankfully)

However, if this is something you may be interested in, feel free to contact our team. We can arrange for you to have a casual chat and see what options may be available.

From here you can decide how you would like to proceed.

Discuss Your Transfer Value

Discuss Your Enhanced Transfer Value Options


How do I speak to an advisor to assess my options?

If you would like a free no-obligation chat please leave your information in the contact box or give us a call.

Please note: This website is for information purposes only and should not replace seeking qualified financial advice. 

Email info@pensionsupportline.ie
Phone 01 890 3518
Video Call https://calendly.com/pensionsupportline/pension-support-line
In-Person Meeting Contact Our Team

Looking for more information?

We specialise in guiding clients through the Enhanced Transfer Value process. If you are looking for more in-depth information, feel free to check out our guides.

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