Hi all
I have been paying into an AVC scheme with New Ireland since 1998. The contributions have amounted to €21840 approx. My latest Annual Benifit Statement puts a value of €20733 on my accumaleted fund, or over €1100 less than has been paid in. As I pay tax at the higher rate, I know that the real cost to me of accumalating this fund is far less than the contributions when tax relief is taken into account, but I feel that the insurance company is taking advantage of this fact. As a civil servant am I free to transfer the accumalated fund and future contributions to any provider I wish, i.e. one with lower charges and better performance?
HAL9000
I have been paying into an AVC scheme with New Ireland since 1998. The contributions have amounted to €21840 approx. My latest Annual Benifit Statement puts a value of €20733 on my accumaleted fund, or over €1100 less than has been paid in. As I pay tax at the higher rate, I know that the real cost to me of accumalating this fund is far less than the contributions when tax relief is taken into account, but I feel that the insurance company is taking advantage of this fact. As a civil servant am I free to transfer the accumalated fund and future contributions to any provider I wish, i.e. one with lower charges and better performance?
HAL9000