Lookingforadvic
Registered User
- Messages
- 33
Thanks Kevin, one with standard life (he took out 30 years ago in 1990) and the other with Ark Life Pensions (taken out in 2002).. When we asked why we could not increase or make lump sum payment, they just advised that the plans changed and it was not permitted any more. No other explanation given.....very unfair really.What was the reason they gave for saying that?
Most providers have a minimum for single premium contributions but it normally gets applied if you send it in.
Are you on an old contract where you have initial units?
Kevin
www.thepensionstore.ie
Kevin it was a few years since he made previous lump sum payments....I tried Irish life about 3 days ago to help us to set up new personal pension but they haven't as yet gotten back to us.... Does it normally take this long to give your money to a pension company?Yes, not exactly a user friendly policy.
Was he able to apply lump sums last year?
As in, has this 'change' taken place within the last 12 months or is it going back a while?
You would be tight on time but it's still possible to do it. However, you would only know if it's worthwhile moving your funds after Nov 12th by making a comparison between the current fund value and the transfer value because they're unlikely to be the same if it's an older contract.
They would be able to tell you if you ask the question.
Kevin
www.thepensionstore.ie
Do anyone know can you start a pension in 2019 and make a single premium contribution relating to tax year 2018 ?
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