Are units reduced by pension levy

[3CC]

Hi,

I had a Quinn Life pension (now Irish Life). Now that it has been transferred to Irish Life, I seem to have less units than I thought. I wonder if this is the effect of the pension levy. I compounded 0.6% twice (for 2011 and 2012) and I think I should have 98.8036% of my original units left but I have a little less.

Does anyone know the mechanics of how QL applied the pension levy?

Thanks.

 

[Baracuda]

You are right...The 0.6% levy is deducted from the pension by selling units in the pension fund. You can ask IL to provide you with a statement of units surrendered and at what price they were sold at.

 

[bstop]

Any fees and charges will also result in a lessening of the number of units.