Can I transfer money from a Personal pension to a PRSA without incurring charges ?

M

MfS

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I took out a personal pension plan and I am currently incurring a fund charge of 4.65% a year and I am told that this will be the case for the next 30 years. I am also told that if I transfer the amount to a PRSA that it I will lose 37.5% of the value of the fund.


Should I be able to transfer money from a Personal pension to a PRSA without incurring charges ?
 
Nope, sorry - the recent legislation dictated that transfers from one PRSA to another should incur no charges, but no retrospective legislation was introduced in respect of personal pensions - so charges can apply to transfers from them.
 
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