I have left the public service and can no longer contribute to the ps AVC scheme. Therefore I want to transfer the fund to my new private sector employer's defined contribution scheme.
However, the AVC fund manager insists I pay a 5% fee for converting the AVC to a PRSA before transferring.
Does this make sense and is the 5% considered appropriate?
However, the AVC fund manager insists I pay a 5% fee for converting the AVC to a PRSA before transferring.
Does this make sense and is the 5% considered appropriate?