What do with my old Pension?
After leaving a company or being made redundant an ex-employee is the left with decision what will I do with my pension?
If it is not a defined benefit scheme we generally advise customers to take out a Retirement or Buy-Out Bond.
The reason we advise this is as follows:
1) It will typically allow a customer to access this pension from the age of 50
2) The monies can be transferred into an ARF/AMRF upon retirement
3) You know have full control of the investment process
4) You can reduce cost associated with Pensions
If you have decided to take out a Retirement or Buyout Bond you now must decide which Life Company/ Insurance Company you would like to purchase this bond with.
Factors that should be considered:
1) What is the allocation rate i.e. how much of my money is going into the bond, with increased competition this should be offered at rates greater than 100%
2) What are the annual charges associated with the bond
3) How has the company performed against its peers
At All Financials we have agencies with all the leading providers in this field:
Zurich Life
New Ireland
Aviva Life
Standard Life
New Ireland
Canada Life
Friends First
AXA Financial
We would be happy to meet to discuss the options and the companies associated with them and remember all our consultations are free and there is no pre-requisite for you to purchase anything.
