Q
I would consider removing the life cover from the pension rather than removing the fund from the pension as the latter attracts exit penalities.Hi ,
It looks like I can keep the Life Assurance (cost 100 pm) and move the pension elsewhere.
As the cost of life cover was deducted from the fund this has seriously impared the growth of the fund. I know that if you remove the benefits from the fund you should see more realistic returns. You should also be able to change funds to something that maybe more suitable to your growth expectations within the pension.If I transfer the pension part I will incur a penalty (I would incur a penalty anyway if I retire before 70 it seems) but I think I am better off moving it as it has been so disapointing.
Hingsight is a cruel mistress isn't that what they say![/QUOTE] I just ran a check on the returns of an average managed fund and over this period they have returned c. 175% but of course managed funds supposedly have a lower risk ratio than ETF's. I have said in many of my posts here on AAM that investing in managed funds for a higher level of return is futile as managed funds rarely if ever beat an indexed fund, fact is that you are paying highter management costs for poorer return.Let alone property,the Dow Jones index increased by nearly 500% during my 17 yrs contributing (Pension returned minus 33%).
Some companies charge €5 per month and others do not charge, transfering funds would not incur any charge, about 1% management charge and c.€4 p.m. policy fee and €8 p.a. pension board feeIf I move the Pension fund to a new Pension and close it off (not make any more contributions) what leval of fees might It incur for just trustee services on a closed off fund.
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