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€50k to new ireland PRB advice

  • 10-01-2013 11:20am
    #1
    stoves1
    Registered Users, Registered Users 2 Posts: 227 ✭✭


    i am looking for advice as a previous employer has wound up their pension scheme which i was a member, but thankfully former employees like myself have been offered the full allocation rate to transfer to new ireland personal retirement bond with reduced charges/commmision.

    i now need to choose a fund from new ireland to give the ok to transfer to,
    details i am aged 51, working now in public service where it is intended i will get circa 85% of half salary on retirement at 60yrs.

    personally i am not a very risk adverse person so would hope to take the benefits from this investment at 60, i would appreciate advice on this:)please


Comments

  • #2
    Drumpot
    Registered Users, Registered Users 2 Posts: 19,306 ✭✭✭✭Drumpot


    When you say full allocation I presume you mean 100% allocation , this is the norm. In terms of management charge is it 0.75% or higher?

    If above are your charges you can shop around with other providers who may provide alternative funds that may suit you better at no extra charge. This would be particularly helpful if you were going with a fixed deposit fund choice that could end up being better with one pension provider over another.


    In terms of fund choices, most companies have specified brokers to advise you on what funds for you to consider. Have you contacted the specified adviser ?

    Incidentally find choice is one of the most important factors that determines what you will get out of a DC pension plan at retirement.

    Have you considered contacting a financial adviser to see of they will match the deal you are being offered? If you found one you trusted you would get the same deal and would also have a personal adviser acting on your behalf (instead of a pension provider that is only interested in business for itself). I am a an adviser (for disclosure reasons)


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