pension / concerns

2012paddy2012

Not quite sure if I am posting in the right place , please move if not.

I retired 6 months ago , from the civil service. A standalone PRSA/avc had also come to the end of its life. It could only be utilized , when my main pension
scheme came into being after I retired. I was going to cash it in. However , a financial advisor( specializes in civil service) happened to be around visiting offices at this time , this person was a Senior Financial Advisor , reputable.

Anyway I had a change of heart , and guided by advice , decided to invest my policy funds into a new policy , in order to continue an investment into the future availing
of the tax breaks etc. Paperwork completed.

Now at this time ,I am being requested for information ,from the brokerage firm , from verify my identity , to supply payroll documents , basically a re run of all the information I was asked for 6 months ago , and provided at that time. There is no contact from the advisor that I dealt with initially.

I am being vague here purposely as this may be a genuine , innocent , oversight , but I cant help worrying , about this as the funds are reasonably substantial.

I cannot verify where the funds are , I am arranging to go to see them about it. Before I do I was hoping to get a bit of advice here, to ask appropriate information.
Am I entitled to confirmation that my funds are safe and secure.
If the circumstances , that that are that they are missing , have i any comeback , if so how do i go about commencing that procedure. They are regulated by the central bank. Is that any comfort should any issue arise.
thks

Paddy

Henry Ford III

The area is quite well regulated so I wouldn't worry.

I'd ask them directly where your money is, and ask for that to be confirmed in writing. No need to go see anyone. Yet.

Depending on their reply I'd think again. Chances are that it's still with the old PRSA provider, and that the transfer never happened.

The J Stands for Jay

Henry Ford III wrote: »

The area is quite well regulated so I wouldn't worry.

I'd ask them directly where your money is, and ask for that to be confirmed in writing. No need to go see anyone. Yet.

Depending on their reply I'd think again. Chances are that it's still with the old PRSA provider, and that the transfer never happened.

The advisor likely forgot that the prsa provider will need to verify your earnings and length of service before they are able to pay out to the new product (sounds like an ARF). They ARF provider will also need to establish your identity. Probably nothing to worry about. These civil service experts are often not so hot when it comes to PRSAs.

Joey321

Maybe ask them what fees they charge, do you know what they charge?