How to start a pension

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powdoman

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Hello I am new to the forum so want some advice I want to start a private retirement pension fund as soon as possible and transfer my existing pension into it and use it for a deposit on an investment property but can someone recommend the best company to do this fast and easy thank you
 
powdoman said:
Hello I am new to the forum so want some advice I want to start a private retirement pension fund as soon as possible and transfer my existing pension into it and use it for a deposit on an investment property but can someone recommend the best company to do this fast and easy thank you
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  • You'll need to make sure that the type of self-administered pension product you propose to transfer into is a suitable recipient for the type of pension fund you currently have. There are various rules about what you can and cannot transfer pension funds into.
  • Maximum lending to a self-administered pension fund is 50%. Maximum term of the loan is 15 years, or your Normal Retirement Age, whichever is sooner. Repayments must be capital and interest. The loan will be non-recourse, so the rental income must support the loan as the lender has no recourse to your personal income or assets. Last time I looked there was only lender in Ireland willing to look at this type of lending.
  • You'd need to be aware of the very high risk nature of what you're proposing - a geared investment in a single asset. Many perished on that rock about 18 years ago.
What you're looking at is a complicated area. It will be neither fast nor easy.

Regards,

Liam
www.FergA.com
 
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powdoman said:
transfer my existing pension into it and use it for a deposit on an investment property
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Why do you think that an investment property is the most appropriate asset class in which to invest your pension?
 
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