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Leaving personal pension plan

  • 28-03-2015 9:29pm
    #1
    fire_man
    Registered Users, Registered Users 2 Posts: 1,060 ✭✭✭


    I am starting a new job in few weeks where employer will contribute to my pension.I had a personal pension for last couple of years which I want to cease.What can I do with money invested?Do I have to wait until retirement age?


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,626 ✭✭✭✭coylemj


    If the scheme in your new job is defined contribution (DC) which it most likely is, they may allow you to move your existing fund, this would probably mean lower charges in the future so would be worth pursuing.

    The answer to your last question ('do I have to wait until retirement age?') is yes.


  • #3
    fire_man
    Registered Users, Registered Users 2 Posts: 1,060 ✭✭✭fire_man


    Thanks for that reply.


  • #4
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,861 Mod ✭✭✭✭Henry Ford III


    coylemj wrote: »
    If the scheme in your new job is defined contribution (DC) which it most likely is, they may allow you to move your existing fund, this would probably mean lower charges in the future so would be worth pursuing.

    The answer to your last question ('do I have to wait until retirement age?') is yes.

    You can't move ppp assets into an occupational scheme.

    The charges may be higher/lower/the same.


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