Impossible to tell without more info (e.g. one is an occupational fund - what about the other?, what charges apply in both cases, what fund selection is available etc.). It is obviously easier to administer/track a single pension but that it itself may not be reason to merge them.
Depends on the specific pension as to what charges apply and how.
Thanks Clubman .. flood gates are opening ..
Both were defined contribution. Both were with Irish Life. I think the charges were around 1% pa. Although I recall a conversation back in '89 when I set up my first pension that 80% of the accounts lifetime adminstrations costs would be deducted in y1. I struggle with that, but I was young then and paid little attention.
Getting to the point; are costs now charged on an annual basis only, i.e no y1 burden as you jump from one company pension fund and to another?
My current pension provides a feature enabling I spread my contribs across different funds, which I like as I can choose my risk profile. So I'd like to consolidate to a single fund. Can I do that?
How can I better understand fund management. I presume the value of my fund is down to my % share of the overall fund(s), each funds value being its capital value of its assets, i.e. property, shares, bonds, etc. So when the market takes a knock as its doing now, my fund value decreases with share price drops .. I presume fund managers offload poor performing stocks ..
All that said . can't say I'm too pleased with 2006/2007 performance. Am putting in the full 20% and (aside from tax upside) I had little value appreciation .. 0.5% for 2006 and 2007 !
Can I shop around for some boutique pension fund managers ... apparently they exist in Ireland and boast 15-20% .. can I have an AVC fund manager independent of company fund.
Any thoughts on who is worth a punt .. a high risk investment fund.
ta