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Options for moving existing pension to a more cost effective scheme

  • 16-01-2017 2:20am
    #1
    buddach
    Registered Users Posts: 1 ✭


    Hi folks,
    I have a New Ireland pension with a former employer and it now has about 20k in it.  I haven't contributed anything since 2004 and as I'm living in Australia now I'm  unlikely to contribute any more in the future. I'm under 50 so not able to withdraw it yet. Is there a low cost, high return fund I can move it to in Ireland? Should I instead consider moving it to Australia? Are there other options I am missing?
    Thanks in advance,


Comments

  • #2
    Boards.ie: Niamh
    Boards.ie Employee Posts: 12,597 ✭✭✭✭✭Boards.ie: Niamh
    Boards.ie Community Manager


    Moved to Banking & Insurance & Pensions forum.

    How can I? User's guide to some features on the new site



  • #3
    Merowig
    Registered Users, Registered Users 2 Posts: 413 ✭✭Merowig


    I assume you have an occupational scheme? If so the employer most likely still covers the administration fees for your pension.

    Occupational schemes are usually already cheaper than PRSAs - so most likely the cost effective option is to keep it where it is.

    In case it is a PRSA - Davy has a PRSA with an AMC of 0.75.


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