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I now have to decide where to transfer my old pension sum to. It seems to me that it would be no advantage to transfer the money to my current pension as it is defined benefit. Is that correct?
Is PRSA the way to go? Are there any other worthwhile options? I would really appreciate any advice.
or whether it would simply be invested by them for you on a DC basis.
Yes of course there would be more funds, but there MAY be a wide range of funds available under the DB Plan's arrangement to accommodate transfers-in...we really do not know without further info..
One would expect that setting up a new policy to accommodate any transfer from DC would be more expensive than transferring into the existing DB Plan ..
YepDo you mean 100% net allocation after a bid-offer spread on a PRB?
It's the fmc that will catch you in the long-run though.
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