Pension Options on Changing Job

Hi folks,

I will soon be changing job and I have a pension fund from my old job in the order of €50k. I understand that I have 3 broad options:
a) cap the existing fund and pay a maintainance charge;
b) transfer to a personal pension fund;
c) move to new company's pension scheme;
d) set up a PRSA.
but I'm finding it difficult to identity some specific products to evaluate.

My question is: can anyone tell me, in broad terms, what are the main costs and charges I should be aware of, with these options, when evaluating this decision; or alternatively can anyone recommend some pretty decent low-charge retail products?

Hello There,


Most people tend to put paid up benefits into a personal retirement bond, in their own name, rather than transfer to a new employer as you are handing over your money to a new trustee. There are a number of Personal Retirement bonds on the market, but I would recommend that you seek Independent Advise, as the options are vast. Normally you will be looking at a .75% fund management charge and 5% bid offer charge, but for the amount you are going to invest you will get an allocation rate of about 104% which will nearly wipe out the bid offer spread. If you want any other details PM me.