# Would you move your Pension to Irish Life?



## KarlC (5 Apr 2011)

I've been in touch with a broker about moving an existing Pension to Irish Life given my current charges and allocation rates are non competitive.
I know Irish Life intend to re-list as an Independent entity, they are well capitalised and seem financially secure given their surplus capital is c €700m. 
Do you think their new ownership structure will strengthen their position in the Irish market??


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## Baracuda (6 Apr 2011)

Hi Karl

If your broker has advised this ask for a comparson of both pensions and also ask for a projection for your existing pension and for the proposed pension, by doing this you are making an educated decision. I have often seen that older contracts have what appears to be higher AMC and Bid/Offer charges but there would be good loyalty bonuses to offset the charges.

As for Irish Life I can not see that it will have any effect to the day to day running of the company and would think that it will be business as usual. One of the largest problems that they face at the moment is the potencial bancassurance contract loss as a result of AIB taking over EBS. It is also rumored that PTSB could be merged into BOI if fully nationalized so there could be another contract loss there as well.  

I would think that while IL may relist on the Stock exchanges there is a very real chance that some of the smaller players in the Irish market such as Zurich or Aviva may try and suck up as many shares when the IPO takes place and try a take over subject to competition athority approval kinda like what Ryan Air tried with Air lingus. Then again Axa and Allianz is rumored to be very interested.


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## Sumatra (7 Apr 2011)

At present I think I'd have 80% confidence and 20% doubt. Doubt because of the ill effects of adverse public perception, trust, shareholder losses and resultant implications for new business.


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