prsa to defined contribution?

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seantheman

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five years ago the company i worked for didn't have a pension scheme, so i started a contributing to a prsa. i started a new job six months ago and am now eligable to join company defined contribution scheme. do i keep the prsa going? join the co. scheme? do both? or transfer prsa value to co. scheme? thanks in advance
 
You'll probably just have to look at exactly what is on offer in each case although it is likely that the new company scheme, especially if it is a reasonably large company, will lighter on your pocket anyway.
 
Thanks Caveat, I wanted to get some unbiased views as i'd imagine the Co. pension administrator would advise transferring the prsa. This may indeed be the way to go but i need some objectivity
 
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I ended up joining the company defined benefit scheme. Now I have to decide what to do with the Prsa, Is it best to get in touch with the Administrator and inform them that i will be suspending contributions to Prsa. Do I just ask them to seal up the policy until such time as I may need to use it again?
 
Yes you can advise your PRSA provider that you want to make your PRSA "paid up" which means that there will be no further contributions added until further notice but the existing fund will continue to be invested and participate in the performance of your chosen fund(s).
 
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