If you’re a former Elan employee looking for Elan pension advice and exploring early retirement options, this guide provides general, practical guidance for navigating your pension in Ireland.

Using our pension calculator, you can estimate how much of your fund is available tax-free under Irish rules and plan how to invest the remainder for higher growth. Many former pharma employees, including those from Elan, have used these strategies to optimize their retirement planning and make confident decisions about early retirement. Whether reviewing your options, transitioning to a new role, or planning for retirement, this guide provides practical advice to help you make the most of your pension benefits.

Elan Corporation was headquartered in Dublin, with major R&D and manufacturing facilities in Athlone, contributing to Ireland’s leading pharmaceutical sector. The company was acquired by Perrigo in 2013, and some of its assets were later taken over by Alkermes. Many former employees may now be holding a preserved pension without realizing they could release up to 25% tax-free, particularly if they are over 50. Understanding your options and planning carefully can help you make the most of your retirement savings.

How Former Elan Employees Can Calculate Their Tax-Free Lump Sum

If you previously worked at Elan, understanding how to calculate your tax-free lump sum is an important step in planning your retirement. In Ireland, you may be able to release up to 25% of your preserved pension tax-free once you are over 50. Knowing your options can help you make informed decisions and maximize your retirement savings.

Step-by-Step Guide:

• Check your pension statement: Verify the total preserved pension fund you have.

• Use a pension calculator: Estimate your tax-free lump sum based on your fund size and age.
  Try our pension calculator to get a quick estimate.

• Consider your investment options: Decide how to allocate the remaining 75% of your pension for growth and income.

• Consult with a QFA-qualified advisor: Our team has experience guiding former Elan employees, helping them plan and optimize their pension decisions.

Cashing in Your Pension: Options for Former Pharma Employees

When it comes to accessing your preserved pension, there are several options available under Irish rules. You can typically release up to 25% of your pension tax-free, with the remaining portion available for reinvestment or structured retirement income. Understanding these choices can help you plan for your financial future and make the most of your pension.

Key Points:

• Partial Lump Sum: Access up to 25% tax-free, depending on your fund and age.

• Remaining Fund Options: Reinvest for growth, set up an annuity, or leave invested in a pension plan.

• Professional Guidance: Consulting a QFA-qualified advisor ensures your choices are tailored and compliant.

Early Retirement Options for Former Employees