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Pension Fees

  • 11-11-2022 12:50PM
    #1
    capailldubh
    Registered Users, Registered Users 2 Posts: 52 ✭✭


    Hi Folks

    I hit 65 recently and want to retire from my small business.

    I had an SSAP with an apartment since 2014.

    I recently sold this so now the entire pension pot is in cash and I am looking at my options.

    I just got a fees invoice showing IORP II fee of €1000 and .5% on the cash plus vat.

    I am wondering if this is a good rate or if I should move the pension elsewhere as it is no longer an SSAP.

    I might leave the pot in cash for now and just draw the 4% annually to minimize risk in the current climate.

    If the cash is just sitting in a bank, would that reduce the fees?

    As a hands on working business person, I am getting it hard to see much value from a fee that will be nearly €4500.00 inc vat.



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