Hello,
I’ve a query regarding a number of Personal Pensions Plans with AIB Ark Life.
I originally setup a pension in the late 90’s, then left the country and had to shut it down, it is currently worth €1K. When I returned to Ireland in 2001, I setup another pension and paid into it, but again closed it down as I decided to buy a house and needed to direct the funds towards that. It has a current value of €12K. In early 08 I decided to start my pension again where another policy was created and it is currently worth €15K.
My questions relate to the following:
Why were three policies needed? I understand with the first one as I shut it down, but for the 2nd one, this was suspended.
Should I have not been advised to merge my policies as I’ve just found out that I’m paying fees for all?
Can I ask for the fees back that were paid on the 2nd and 3rd policies?
Can I ask for compensation as the sum of the 2nd and 3rd policies would have gain more combined especially over the last 6 months?
Any thoughts or advise greatly appreciated and realise I should have been watching this more closely, but I thought that’s why I’m paying someone else for this service…I know, very naïve, especially as I make my way through numerous books on the banking sector.
I am also currently trying to setup a meeting with my pension contact with AIB.
Thank you
I’ve a query regarding a number of Personal Pensions Plans with AIB Ark Life.
I originally setup a pension in the late 90’s, then left the country and had to shut it down, it is currently worth €1K. When I returned to Ireland in 2001, I setup another pension and paid into it, but again closed it down as I decided to buy a house and needed to direct the funds towards that. It has a current value of €12K. In early 08 I decided to start my pension again where another policy was created and it is currently worth €15K.
My questions relate to the following:
Why were three policies needed? I understand with the first one as I shut it down, but for the 2nd one, this was suspended.
Should I have not been advised to merge my policies as I’ve just found out that I’m paying fees for all?
Can I ask for the fees back that were paid on the 2nd and 3rd policies?
Can I ask for compensation as the sum of the 2nd and 3rd policies would have gain more combined especially over the last 6 months?
Any thoughts or advise greatly appreciated and realise I should have been watching this more closely, but I thought that’s why I’m paying someone else for this service…I know, very naïve, especially as I make my way through numerous books on the banking sector.
I am also currently trying to setup a meeting with my pension contact with AIB.
Thank you