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UK pension with Aviva - living in Ireland

  • 27-07-2022 2:09pm
    #1
    sirmixalot
    Registered Users, Registered Users 2 Posts: 282 ✭✭


    I have a small pension 11k with aviva. Don't mind leaving it there but they charge £50 a year fee. So will not be really smart to let that happen over the next 15 years.

    Anyone got their pensions out of another country before it starts?

    Thanks.



Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,480 ✭✭✭✭coylemj


    £50 is less than half of one per cent of your fund, what's the problem? Anywhere you put the money, there will be a charge, in most case higher than what you've quoted.



  • #3
    Sesame
    Registered Users, Registered Users 2 Posts: 508 ✭✭✭Sesame


    I have a UK one, smaller than yours and I plan to leave it there. Fees are less than Irish costs (like everything else)



  • #4
    sirmixalot
    Registered Users, Registered Users 2 Posts: 282 ✭✭sirmixalot


    https://www.boards.ie/discussion/comment/119395196#Comment_119395196

    Thanks, Well it's not less than half of 1 percent though. ie if I leave it there until retirement 15 years away x £50 PY = £750 so around 6 or 7% no? Just thought I could take it back as I've not lived there in over 5 years and no plans to ever return there. Anyway if the consensus is to leave as is then all good, just thought others may have done similar in the past.



  • #5
    coylemj
    Registered Users, Registered Users 2 Posts: 25,480 ✭✭✭✭coylemj



    https://www.boards.ie/discussion/comment/119395376#Comment_119395376

    What you need to be paying attention to is which fund the money is invested in. If the money is going to sit there for 15 years, I'd see to it that it's in a fund which is heavily geared to equities. Over that timescale, a managed fund which has the majority of money in shares typically outperforms any other type of fund.

    The annual charge you're quoting will only be significant if your money is in a very low risk (=low return) fund like cash. Over 15 years in a managed fund, you should beat inflation, can ride out stock market peaks and trough and should get a good return. And that £50 annual charge will be the least of your worries.



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