My old company's pension Plan was wound up in 2007.
I took the default option of transferring approx 30k into an Irish Life PRB in 2007.
The funds were allocated 90% Irish Life Consensus Fund and 10% Secured Performance.
As we know, the Irish Life Consensus Fund took a bit of a hammering since then and my PRB value is down approximately 36% overall.
I would like to make back as much of this value as possible over the next 2-3 years.
As I understand it, the Secured Performance Fund is no longer accepting new entrants, and if I leave it, I cannot rejoin.
The declared return on this fund is going to be 0% this year.
My questions are as follows:
1) should I keep my 10% in the Secured performance fund, and keep this Fund Option open to me?
Even funds such as the Cash fund are likely to outperform this in the short term.
2) The Consensus fund has improved lately, but I wonder if I should spread the 90% currently invested in it into more risky but potentially higher yielding funds like the Active Managed, or Equity managed, or Indexed Global Managed. Or is it too late to get back into Equity Funds (i.e. are the unit prices already too high - have I missed the boat)
I am in my mid thirties.
Your thoughts on this?
Thanks,
C.
I took the default option of transferring approx 30k into an Irish Life PRB in 2007.
The funds were allocated 90% Irish Life Consensus Fund and 10% Secured Performance.
As we know, the Irish Life Consensus Fund took a bit of a hammering since then and my PRB value is down approximately 36% overall.
I would like to make back as much of this value as possible over the next 2-3 years.
As I understand it, the Secured Performance Fund is no longer accepting new entrants, and if I leave it, I cannot rejoin.
The declared return on this fund is going to be 0% this year.
My questions are as follows:
1) should I keep my 10% in the Secured performance fund, and keep this Fund Option open to me?
Even funds such as the Cash fund are likely to outperform this in the short term.
2) The Consensus fund has improved lately, but I wonder if I should spread the 90% currently invested in it into more risky but potentially higher yielding funds like the Active Managed, or Equity managed, or Indexed Global Managed. Or is it too late to get back into Equity Funds (i.e. are the unit prices already too high - have I missed the boat)
I am in my mid thirties.
Your thoughts on this?
Thanks,
C.