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Trustee Response

  • 15-04-2024 1:17pm
    #1
    sheldon16
    Registered Users, Registered Users 2 Posts: 147 ✭✭


    Hi All,

    Wondering if this is norm, Have pension with work and wanted to transfer a previous work pension into it. The Trustees of current pension took almost 3 months to respond back to say they would accept into my pension.

    It seems too long to respond however I wanted to ask if I am right

    Thanks



Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,861 Mod ✭✭✭✭Henry Ford III


    Seems a bit long to me.

    But then again how long is a piece of string?



  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,613 Mod ✭✭✭✭Jim2007


    For me it would be about normal, but my experience is exclusively in mainland Europe. I would expect the risk had to be considered are it impacts all members and generally speaking funds to splash too much on the admin costs. It is not as if there is competition in adding your previous savings to your current pension.



  • #4
    The J Stands for Jay
    Registered Users, Registered Users 2 Posts: 5,880 ✭✭✭The J Stands for Jay


    It would be normal enough. Trustees don't always meet regularly, so it can take a while to get things done. They can also look to have consultants given things a once over before making a decision, no matter how easy a decision it might be.



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