Transfers from occupational pension schemes to a PRSA require a certificate of comparison and written statement before they can be implemented.
We have the necessary expertise to do so, 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) Schemes to PRSAs. The certificate compares the expected benefits from the occupational pension scheme with the expected benefits from the PRSA. LCP prepare these certificates for both DB & DC Transfers, and we can provide certs within 5 days of receipt of the appropriate information.
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.
How we can help
Accurate projection of retirement benefits is an important disclosure requirement under PRSA and occupational pension scheme legislation.
The process of obtaining approval as a PRSA provider is challenging and intensive.
We currently act as PRSA actuarial consultants to 8 PRSA providers. As a result, we have significant experience of conducting compliance reviews for PRSA business.
Want more information?
If you would like to know more about our services and how we can help you with PRSA get in touch.Contact us