Hi There,
I'm looking for some help.
I got a letter from my broker today telling me that the BCP Split Deposit 100 Growth Bond 3 Fund portion of my pension has been moved to a new deposit account by BOI. This provdes me with early access to my full capital protected amount from this date onwards without penalty. The letter goes on to say that this change means that the investment is no longer covered under the Credit Institutions Scheme 2009. The broker goes on to say that the the final return will still be paid at the original maturity date in accordance with the T&C's.
I suppose I have a number of questions ?
Why would BOI move my funds to a new deposit account ?
Should I avail of the early access to the funds ?
If I avail of early access to the funds will I loose the potential upside of the investment ?
Because I have early access to the funds does this mean that I can take the funds and moe them to another self directed pension that I'd like to setup without any penalties ?
Any advice would be really appreciated.
MikeM
I'm looking for some help.
I got a letter from my broker today telling me that the BCP Split Deposit 100 Growth Bond 3 Fund portion of my pension has been moved to a new deposit account by BOI. This provdes me with early access to my full capital protected amount from this date onwards without penalty. The letter goes on to say that this change means that the investment is no longer covered under the Credit Institutions Scheme 2009. The broker goes on to say that the the final return will still be paid at the original maturity date in accordance with the T&C's.
I suppose I have a number of questions ?
Why would BOI move my funds to a new deposit account ?
Should I avail of the early access to the funds ?
If I avail of early access to the funds will I loose the potential upside of the investment ?
Because I have early access to the funds does this mean that I can take the funds and moe them to another self directed pension that I'd like to setup without any penalties ?
Any advice would be really appreciated.
MikeM