pension funds..

[baguio2007]

Just got my yearly co. statement - showing details of pension etc. I have the option to pick from the following pension funds. I have 100% in the first one. I havent made an informed decision in choosing that one - there wasnt much support in terms of info as to what would be wise to go with.
Can anyone shed any light on how I can choose between these? Is there some wisdom behind it or is it a stab in the dark as to what performs best?

Irish Life Consensus Managed Fund
BIAM Indexed All Equity Fund
Irish Life Long Bond Fund
Irish Life Cash Fund
Irish Life Global Access Managed Fund

 

[ClubMan]

Unless you are nearing retirement I would imagine that you can/should ignore the cash/bond funds for now. Then you should see what the risk/reward profile of the others is and choose one that matches your specific needs. If you have a good while to go to retirement then you might want to consider going with the one with the highest risk/reward profile. If the charges differ on the different funds then you might want to also consider which is the cheapest.

 

[capall]

All you have to do is go on to the irish life website and it will tell you the strategy of these funds,there returns ,fees atc
Normally you wouldn't want to put your money into a cash fund unless you are close to retirement age or gambling on a downturn in the markets

I think the consensus funds try and follow the market averages

 

[thatbeatsall]

If you have fifteen years or more before retirement go for the All Equity fund. The consensus fund has about 20% cash and bonds in it, which will drag the return down compared to 100% equity. As you get nearer retirement review the situation.

 

[ClubMan]

An, as ever, if you are in any doubt about what is best for your specific situation then get independent, professional advice from an objective third party.