Aviva Personal Retirement Bond

You have up to two years after you leave a company pension to transfer your fund to a retirement bond. Outside of the two year period you can still transfer to a retirement bond but you will need the Trustees of the pension scheme to agree.

The bond is set up by the Trustees of your company pension. They apply for the bond in your name but once it is set up it belongs to you and the Trustees have no further involvement in it.

You do. Even though the Trustees have to sign the application form, you can generally choose any retirement bond available in the market.

When transferring your pension fund on your behalf, the Trustee of your pension scheme must have your consent. However, there are certain circumstances whereby a Trustee can transfer your fund without your consent. These include but are not limited to:

• If a company pension scheme is closing or being wound up; 
• If the transfer value of your fund is less than an amount set by the Pensions Act (which is currently €10,000 in November 2025) and provided that:
  • You left the company at least 2 years ago, 
  • You have not already requested a transfer to a Retirement Bond or another pension arrangement to which your fund can be transferred, and 
  • You are notified at least 2 months before the Trustees intend to transfer the fund.

Where the value of your fund is greater than €10,000 the Trustees can apply to the Pensions Authority for approval to transfer your benefits. The Pensions Authority may approve such a transfer subject to certain criteria being met. For more details on this process we recommend that you talk to your Financial Broker.

Once you’ve put money into a retirement bond you can’t withdraw it until you reach at least age 60. There are two exceptions to this

1. You can retire at any age due to ill health or 
2. If you have left service then you can access benefits from your Retirement Bond from age 50.

If you qualify for ill health early retirement under Revenue rules, you can take benefits from your retirement bond immediately.

If you die before you retire, we’ll pay the value of your personal retirement bond to your personal representatives. In certain limited circumstances, the full value may not be payable as a lump sum. As with any inheritance, your beneficiaries may have to pay inheritance tax on any benefits we pay to them.

No. You can’t transfer the rights to your personal retirement bond to a bank or another institution as security for a loan.

The minimum investment period for paying regular contributions to the Aviva personal retirement bond is 3 years. 

Aviva can accept the transfer of the my payment by electronic funds transfer (EFT). 

Our separate ‘Retirement Guide’ explains all of the various options that may be available to you at retirement or talk to a Financial Broker today!