Hello,
Current situation:
1. Have new ireland PRSA with my company, where my company contributes
2. Have personal execution only prsa with Davy, as the new ireland one sucks in terms of funds available
Later in the year my company is retiring the current PRSA they have and moving us to a defined contribution occupational pension scheme under "mercer" but still with new ireland.
My intent was to simply move the New Ireland PRSA into my existing PRSA but, according to Davy, I can no longer contribute to my normal PRSA but have to open a PRSA AVC.
Fair enough, but when asked if then they will be able to transfer my new ireland prsa inside the "prsa avc" product they said they can't help.
Is this a davy thing or by law I cannot transfer PRSA --> PRSA AVC?
Current situation:
1. Have new ireland PRSA with my company, where my company contributes
2. Have personal execution only prsa with Davy, as the new ireland one sucks in terms of funds available
Later in the year my company is retiring the current PRSA they have and moving us to a defined contribution occupational pension scheme under "mercer" but still with new ireland.
My intent was to simply move the New Ireland PRSA into my existing PRSA but, according to Davy, I can no longer contribute to my normal PRSA but have to open a PRSA AVC.
Fair enough, but when asked if then they will be able to transfer my new ireland prsa inside the "prsa avc" product they said they can't help.
Is this a davy thing or by law I cannot transfer PRSA --> PRSA AVC?