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Pensions

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  • 26-11-2008 8:21pm
    #1
    Drummerboy2
    Registered Users Posts: 888 ✭✭✭


    My partner and a a couple of her colleagues have being paying into a company pension fund for quiet a few years. Recently the MD casually suggested to he was worried about the fund and perhaps it was best if they cashed the policies in and invested the money into something else. The workers are not sure if the company just wants to stop paying for a pension or if it is genuine advice. Does it seem like sound advice or should these people leave their hard earned cash in the hands of a pension company.


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    #2
    zokrez
    Closed Accounts Posts: 565 ✭✭✭zokrez


    The fund has probably gone down in value over the last year - significantly. One could transfer to cash so it doesn't go down anymore or leave until markerts go back up - if ever ! The MD could easily cease payments but the fund built up would generally be ringfenced.


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    #3
    Chris89
    Registered Users Posts: 1,158 ✭✭✭Chris89


    It is not possible to just cash in your pension, if he means switch funds invested in or transfer to another provider, then perhaps they should contact the broker who sold them the plan.

    Markets are cyclical, pretty much everything is down bar cash on deposit. It'll bounce back.


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    #4
    broker2008
    Registered Users Posts: 750 ✭✭✭broker2008


    From a fund point of view, leave it where it is to have any chance of recuperating losses. There will be a big bounce soooooon (;)) and when it happens it will happen very quickly.


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