Save and access your pension
For a State guaranteed, convenient statement based savings account for the transfer of your Department of Social & Family Affairs pension, try our Pension Save account. Pension Save offers you a simple way to save with no fees, charges or commission.
How can I open a Pension Save account?
- You can have your pension paid directly from the Department of Social & Family Affairs into a Pension Save Account by filling out an application form, which is available from, Pension Service, Department of Social & Family Affairs, Sligo, and returning it to them. Your details will then be forwarded to us and we will set up the account.
- Contact telephone numbers for the Pension Service, Dept of Social & Family Affairs : (071) 35200 or (01) 8748444.
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Which account is best for me?
- Sole Account - Withdrawals require the signature of the account holder.
- Joint Account - This account can be opened in two or more names and each party has equal rights to the account. Withdrawals require the signatures of all parties. Account holders may decide to allow withdrawals on any one signature and an authorisation form for this is available at any Post Office.
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What are the interest rates?
- Pension Save pays the same gross rate of interest as An Post's Deposit Account.Balance on Deposit
Interest is credited to the account annually at 31st December each year.
- D.I.R.T (Deposit Interest Retention Tax) is deducted at the standard rate, currently 20%.
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How often do I get a statement?
- On transfer of your first payment you will receive an opening statement of your account.
- You will then receive a monthly statement detailing all transactions on your account.
How do I make lodgements and withdrawals?
Lodgements
- A personalised lodgement card, which can be used for lodgements other than your Direct Payment will be issued to you.
- Lodgements can be made at over 1000 Post Offices nationwide using your personalised lodgement card.
Withdrawals
- Download a repayment application form or pick one up at your local Post Office.
- Complete the repayment application form and hand it into any Post Office or post it to:
Repayments Section
Savings & Investments
An Post
Block 3A
GPO
Dublin 1
- Seven working days' notice is required for repayments from the date that the correctly completed form is received in Repayments Section, Savings & Investments, An Post, Block 3A, GPO, Dublin 1.
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What else do I need to know?
Terms and Conditions
a) A Pension Save account may only be opened by persons in receipt of a State Pension ie. State Pension (Transistion), State Pension (Contributory) or Widow's/ Widower's (Contributory/ Non Contributory) Pension.
b) Withdrawals of the amount saved may be made on giving seven working days notice by completing a Repayment Form which is available on line, or at your local Post Office and forwarding to An Post, Savings & Investments services, Repayments Section, 3A, G.P.O, Dublin 1. Withdrawals may be made in whole or in part and the amount saved which remains on deposit after any withdrawal shall continue to accumulate interest as set out above.
c) Interest on deposit accounts is subject to Deposit Interest Retention Tax (DIRT currently 20%) but Depositors resident outside the State may apply for an exemption by completing a Non Resident's declaration form. The exemption will apply from the date An Post receives the application.
Refunds of DIRT may be claimed from the Revenue Commissioners by an account holder who is not liable to Income Tax.
d) Withdrawals may not be made against a cheque deposit until 12 working days have elapsed.
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Pension Save Application forms
Application Form available from Pension Services, Dept of Social & Family
Affairs, Sligo
fred (ensure latest Version)
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Glossary of Terms