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Certificate of benefit comparison

Transfers from occupational pension schemes to a PRSA, where the occupational scheme is not winding up, require a certificate of comparison and written statement before they can proceed.

We have the necessary expertise to prepare Certificates of Comparison and Written Statements and have prepared certificates for transfers to all of the major PRSA providers.

Under the PRSA Disclosure Regulations, a Certificate of Comparison and Written Statement is required to be provided to a member for transfers from Defined Contribution (DC), Defined Benefit (DB) and Hybrid Occupational Pension Schemes to PRSAs. The certificate compares the expected benefits from the occupational pension scheme with the expected benefits from the PRSA. We prepare these certificates for DB, DC and Hybrid Scheme Transfers. Typically we can provide certs within 10 working days of receipt of the appropriate information.

The process for the preparation of a Certificate of Comparison and Written Statement is as follows:

  1. An advisor or individual contacts us requesting the preparation of the Certificate of Comparison and Written Statement
  2. We provide the data template and set up the appointment
  3. Once we receive the completed data template along with any attaching files, we prepare the Certificate of Comparison within typically 10 working days.

LCP have been preparing PRSA Certificates of Comparison reports for us over the past 10 years. We have always found them very responsive to our requirements and thorough in their analysis when preparing the comparison. We would happily recommend their services to others.

LCP Ireland client

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