B
badly bitten
Guest
I paid 51,500 into a personal pension policy since January 1993 (I am self-employed), to find that it had earned 600 Euro in total by January 2003. The company blamed the stock market, which of course is a false argument over 10 years. Now I am paranoid about commissions, charges, hidden charges etc. I have two weeks to find an alternative policy to move it to, as a pension policy, PRSA or pension mortgage. I began reading about the stock market, world economy etc in February this year and if I had a free hand now, my pension would be invested in China and the Far East, India, where strong growth rates would give me some chance of making up for lost time. I am 54, single and need a retirement income. I live in a small bungalow on the sea coast with two acres of land. I don't think I would get planning permission for a separate house, but believe I would get permission for a separate unit/ extension which I could rent, certainly in the summer season and probably off season also. Should I opt for a pension mortgage or a Far Eastern equity fund? I can expect three separate lump sums of approx. 15,000 Euro, 20,000 Euro and 50,000 in the coming 3-8 years. The "extension" would cost approx. 80,000 i think. Can anyone offer me any impartial advice that does not cost me an arm and a leg (they're gone already)... Please.. and thank you