F
Friendlyguy
Guest
Hi all,
I need some help. I have a pension fund with Irish Life SINCE 13 Q years. I changed a bit early beginning 2007 all my money from Indexed Global Equity into Capital Protection Fund. Today I am glad that I did do so. The Global Equity is nearly 40% down since last June where my Capital Protection is up a few cents. Saved me a lot of money. Now, I will never hit the low of the market but soon ( couple weeks) it is time to change back into Global Equity. I asked about their condition yesterday and was told on the telephone that I will have to pay an EXIT CHARGE which is since last week 2% of my holdings. I was told that this charges was increased from 1% to 2% last week.
My questions:
Why do i have to pay an EXIT CHARGE at all as I am changing funds within the pension scheme and not exit the scheme?
Where can I find anything about it, I do not find the term and condition of the fund?
If such condition is it ok, can Irish Life increases the charge by 100%?
Is there somebody who can help me, please?
I think I pay already for changing the funds by paying the spread on both funds. I was told always that |i can change the fund 6 times without paying any charge, what is that now??? It is a hughee charge.
Thanks a lot for any answer!
FG
I need some help. I have a pension fund with Irish Life SINCE 13 Q years. I changed a bit early beginning 2007 all my money from Indexed Global Equity into Capital Protection Fund. Today I am glad that I did do so. The Global Equity is nearly 40% down since last June where my Capital Protection is up a few cents. Saved me a lot of money. Now, I will never hit the low of the market but soon ( couple weeks) it is time to change back into Global Equity. I asked about their condition yesterday and was told on the telephone that I will have to pay an EXIT CHARGE which is since last week 2% of my holdings. I was told that this charges was increased from 1% to 2% last week.
My questions:
Why do i have to pay an EXIT CHARGE at all as I am changing funds within the pension scheme and not exit the scheme?
Where can I find anything about it, I do not find the term and condition of the fund?
If such condition is it ok, can Irish Life increases the charge by 100%?
Is there somebody who can help me, please?
I think I pay already for changing the funds by paying the spread on both funds. I was told always that |i can change the fund 6 times without paying any charge, what is that now??? It is a hughee charge.
Thanks a lot for any answer!
FG