Christmas closing arrangements 2021

Irish Life’s offices will close for the Christmas period on Friday, 24 December 2021 at 12pm and will re-open on Tuesday, 4 January 2022.

Depending on the method you use for paying regular contributions this will mean the following:

Payments into Defined Contribution (DC) arrangements

Customers paying by Electronic Funds Transfer (EFT)

Payments received on or between 22 December and 31 December will be invested using the unit prices declared for 31 December 2021. Full contribution data must accompany all payments to guarantee investment. Contributions received without full data will be invested on the date full data is received.

Customers paying by Variable Direct Debit

Direct debit instructions received on or between 22 December and the 31 December will be invested using the unit prices declared for 31 December 2021, and will not be collected from your account until we return in the New Year.

Full contribution data must accompany all instructions to guarantee investment. Instructions received without full data will be invested on the date full data is received.

Customers paying by Automatic Direct Debit

Contributions are automatically collected monthly in arrears. If there are any changes to the monthly amount to be deducted in respect of December 2021, clients must ensure they notify us by Wednesday 8 December 2021. On 16 December 2021 Irish Life will send an instruction to customers' bank accounts to pay these amounts. This will take a number of days to clear customers' bank accounts.

DC Benefit Payments

All Defined Contribution Claims

Pension Lump Sum and Transfer (non-taxed) claim payments
In order to ensure that benefit claims are completed and processed for payment by EFT by the 31 December 2021 we need to receive all the necessary documentation in Corporate Business by the 13 December 2021, at the latest. Where all necessary claim documentation is received after the 13 December 2021 the payment will be made in January 2022, when our offices re-open and claim processing recommences.

Recurring taxable and Once Off taxable payments

The Irish Life payroll department is now closed for recurring and once off taxable pension payments in 2021. No further taxable payments can be made until 2022.

Fund Switches

Fund Switch requests received on or between 22 December and 31 December 2021 will be processed when we re-open in January 2022 using a unit price date of 31 December 2021.

Fund Switch requests received on 1 January 2022 will be processed when we re-open using a unit price date of 4 January 2022.