Hi all, my first post but far from my first visit. I've been lurking for some time! My questions:
Firstly, what are fixed annuities - I'm told that there are currently no pension plans supplying such a thing, but what are they?
Secondly, these fixed annuities are part of a pension plan that's paid up. The transfer balance is €6,000 odd and I'm tempted to transfer it to another pension, most likely a PRSA because I want the ability to stop and restart payments together with a facility to make lump-sum contributions. But if I transfer it I lose the fixed annuities. Those things again! What are they? I'm 44 next birthday, classified as self employed and I've absolutely nothing done about a pension except for that mediocre €6,000. Should I just leave the 6k where it is - with Hibernian - and eventually avail of those fixed annuities and start a new plan? My income fluctuates wildly from month to month. What do you think? I'll appreciate your advice?
Brambles
Firstly, what are fixed annuities - I'm told that there are currently no pension plans supplying such a thing, but what are they?
Secondly, these fixed annuities are part of a pension plan that's paid up. The transfer balance is €6,000 odd and I'm tempted to transfer it to another pension, most likely a PRSA because I want the ability to stop and restart payments together with a facility to make lump-sum contributions. But if I transfer it I lose the fixed annuities. Those things again! What are they? I'm 44 next birthday, classified as self employed and I've absolutely nothing done about a pension except for that mediocre €6,000. Should I just leave the 6k where it is - with Hibernian - and eventually avail of those fixed annuities and start a new plan? My income fluctuates wildly from month to month. What do you think? I'll appreciate your advice?
Brambles
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