Personal Retirement Bond (PRB)

  • Also known as buy-out bonds, a lump sum pension plan into which it may be possible to transfer funds from your existing pension.
  • For investors who are comfortable making their own investment decisions without advice.

What is a PRB?

  • A Personal Retirement Bond is a lump sum pension account designed to receive a lump sum payment from your former employer’s occupational pension scheme.
  • Personal retirement bonds are also known as buy out bonds.
  • To find out more about Retirement Bonds read our Personal Retirement Bond FAQ.
  • Fees and charges apply

To find the pension that suits your needs, try our no obligation consultation. 

Call us 01 614 3311

How a PRB can work for you


  • You have a pension fund from a previous employer's company pension scheme and you want to take control of the investment of the fund.
  • You are leaving your current employer's company pension scheme.
  • Your current employer's company pension scheme is winding up.
  • Fees & Charges apply.

Diverse investment

  • Choose from over 10,000 investments including 1,250+ investment funds. You have access to a wide range of asset classes, including cash, bonds, equities and alternatives.

Reasons to set up a PRB

  • If you were a member of a Company Pension Scheme in a previous employment you can transfer the value of your pension benefits in the Occupational Pension Scheme to a PRB if you are comfortable making your own investment decisions.
  • The trustees of your current  Company Pension Scheme can set up a PRB for you if the Company Pension Scheme is winding up.
  • A new Personal Retirement Bond can also receive a transfer from another Personal Retirement Bond.

Some pension risks

You are responsible for making all of the investment decisions in relation to your pension. Your choices may not be the best options.

As a result, there is a risk that the pension scheme may be underfunded by you and/or the value may be insufficient at retirement so that your long-term retirement needs may not be met. 

It is important that you seek independent professional advice prior to making any decisions which have tax, legal or other financial implications.

Learn more about some of the risks that prospective investors should consider prior to making a decision to invest in a pension or retirement product.

Pension Regulatory Information.

Davy acts as Pensioneer Trustee to EPPs.

Davy is a PRSA provider and a Qualified Fund Manager to ARFs.

Warning: Information provided on the Davy Select website does not constitute investment advice as it does not take into account the investment objectives, knowledge and experience or financial situation of any particular person. You should ensure that you understand the risks associated with any investment prior to making an investment decision.

Unsure which pension
to choose?

To find the pension that suits your needs, try our no obligation consultation.

Call us on 01 614 3311 or email


Download our Pension Factsheets:

PRB Factsheet

Transfer your Pension

Transferring an existing pension
couldn’t be simpler.

Call us now to discuss your options on 01 614 3311


We are an established name, a trusted financial brand that has inspired confidence for nearly a century.

Choosing Davy Select, you’ll build on generations of award-­winning services under the Davy banner.