Irish Life v Aon Hewitt

[Fire away]

All, need some assistance regarding 2 pensions that I have. I have a Irish Life pension from my previous employer worth about 50k at moment it is mostly invested in irish equities small bit in UK/US equities. I havent put in any cash in about 5 years since I finished with my previous employer but performance is going well and slowly going up. Pay Pwc about 100 quid a year as trustees plus the usual Mgt fees. I also have Aon Hewitt pension with current employer worth about 30k performance is average well below the Irish Life one. My question is am I better off transferring irish life pension into the Aon Hewitt pot and just have one big pension or keep it separate as irish life is performing better. I have good benefits though from aon pension if I die or long term out sick but that has nothing to do with size of pot. I'm 34 married with one kid.

 

[Steven Barrett]

Aon use Irish Life as their fund manager, so both pensions are most probably invested with the same life company. The difference in fund performance is the funds. You haven't said where either of them are invested? And remember, there is a relationship between risk and return so maybe the Irish Life one is invested in riskier assets, hence the better return.

Whether to transfer to your Aon scheme, look at the management fees under both first.


Steven
www.bluewaterfp.ie