Hi All,
I have a Personal Pension, to which I contribute 350 per month, this was set up about 1 year ago.
Subsequent to this, my employer set up a pension scheme at work (Aug 2014), and they contribute a little less than 2200 per annum to this policy.
I did enquire at the the time if it was possible for my employer to contribute the funds to my personal pension, but because it wasn't a PRSA or an Executive Pension, this could not be facilitated.
Someone has now mentioned to me that there is a problem with this setup, and that my Personal Pension has to be an AVC Pension?
Is it correct to say that I can't continue with the setup that I currently have?
And if possible can you explain to me what is wrong with it?
Thanks in advance
Wollran
I have a Personal Pension, to which I contribute 350 per month, this was set up about 1 year ago.
Subsequent to this, my employer set up a pension scheme at work (Aug 2014), and they contribute a little less than 2200 per annum to this policy.
I did enquire at the the time if it was possible for my employer to contribute the funds to my personal pension, but because it wasn't a PRSA or an Executive Pension, this could not be facilitated.
Someone has now mentioned to me that there is a problem with this setup, and that my Personal Pension has to be an AVC Pension?
Is it correct to say that I can't continue with the setup that I currently have?
And if possible can you explain to me what is wrong with it?
Thanks in advance
Wollran