Help With Pension Investment options Needed.

Smcgie

Hi, Just a quick question. Can anyone give any recommendations on which of the following would be the best option to place my Pension money into. The pension is a work related and have no idea of the companies that the investment is being placed.

I would be grateful if you could recommend 1 or more (%) out of the following. The Pension can be split into (%) into different Funds.


(A) FUTURE CONTRIBUTIONS ONLY:

1. Irish life consensus fund (%)
2. New Ireland managed fund (%)
3. Irish life active managed fund (%)
4. Irish life passive long bond fund (%)
5. Irish life secured performance fund (%)

(B) EXISTING FUND ONLY

1. Irish life consensus fund (%)
2. New Ireland managed fund (%)
3. Irish life active managed fund (%)
4. Irish life passive long bond fund (%)
5. Irish life secured performance fund (%)

(C) EXISTING FUND AND FUTURE CONTRIBUTIONS

1. Irish life consensus fund (%)
2. New Ireland managed fund (%)
3. Irish life active managed fund (%)
4. Irish life passive long bond fund (%)
5. Irish life secured performance fund (%)

Any advise on pension schemes welcome. The work pension is not mandatory but there is the benefit of my company adding up too 5% of my gross weekly wage on top of my pension attribute.

E.g. I add €40 the company match the €40 as long as the I don't add more than 5% of my gross weekly wage[/SIZE][/SIZE]

sofireland

How old are you etc?

Smcgie

I'm 20, Currently PAYE, Single no childern etc. Average income.

sofireland

Well considering you've 45 yrs till retirement age, any of those funds would be more than suitable for you for the next while.
Given your so young i'd recommend a fund that has a good weighting in equities (shares) as they provide good growth over the long term, so really i'd consider the Irish Life Consensus/Active Managed Fund, or the New Ireland One.
Try to find out what the annual charge on the fund is also, generally they are 1% pa and there may also be a premium related charge.
Probably going 50/50 between Irish Life and New Ireland would be a good idea, splits the funds to two different fund managers.

KillerShamrock

well your best bet is to talk to and expert like a financial advisor or pensions expert and get a full finincial review done, then talk through your options i think most banks have one in every branch and do them for free

ircoha

u need on any fund:
1: what is the annual fee for just having the fund open?
2: what is the slice taken off each amount lodged to the fund?
3: how often are your units purchased: weekly/monthly ?
4 what is the typical bid-offer spread if u need to switch bewteen funds?
5: are there limits/rules re when u can switch between funds?

Smcgie

Thank you all for the info, i shall put the questions above to the Investment crowd and then follow on from there...

Once again thanks for the help ,