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[Req] Should I take out one pension or two?

FrCrilly · 2007-06-05 14:23:38

Hi All, I’m planning make Additional Voluntary Contributions to my work place pension. While I’m happy with the financial status of the pension company itself, my only concern is that I’m entrusting my pension with only one company, which if it went bankrupt would mean I’m screwed. Does anyone with knowledge in the area…

05-06-2007 2:23pm

#1

FrCrilly

Closed Accounts Posts: 528 ✭✭✭

Join Date: September 2006

Posts: 323

Hi All,

I’m planning make Additional Voluntary Contributions to my work place pension. While I’m happy with the financial status of the pension company itself, my only concern is that I’m entrusting my pension with only one company, which if it went bankrupt would mean I’m screwed.

Does anyone with knowledge in the area know if it is common practice to distribute your pension between a number of providers, to hedge oneself against this risk. I don’t think I can trust a financial advisor on this one, as his/her advice could be biased towards selling me a policy on which he/she will receive commision.

Thanks In Advance

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