Notification that I'm Near End of Pension

B

BtB

Guest
I turn 60 this year. I have a minor pension fund with Eagle Star. I wasn't really focussed on it as I have a larger pension. I was under the impression that Eagle Star were supposed to write to me two years before I turned 60 to advise me to switch into a cash account.

Am I wrong?

I looked on the pensions board website, but no joy.
 
In my opinion, the onus is not on Eagle Star to advise you which funds you should invest in - this is up to you/your financial advisor to decide.

There is no legal obligation for Eagle Star to tell you to switch into cash either

Eagle Star would merely administer the policy for you, which may include writing to you, say within 6-8 weeks of your maturity with options.
 
If you chose Eagle Star's Pension Star fund option, they automatically switch you to lower risk assets as you near your selected retirement age. (Did you select 60 as your retirement age, by the way?)

If not, it's up to you or your adviser to switch your funds.
 
Thanks for your help.

No, it is not the Lone Star pension; it is their standard pension.
 
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