PRSA (cost of moving provider)

T

trackdaychamp

Registered User
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Hello All, I'm moving my SSAP into PRSA as the max allowed company contributions are much more generous. My pension trustee is offering fees of 0.6% on a value of approx 1.3m and I'll have to pay to convey 1 residential property inside my fund, from the SSAP into the new PRSA. If I was moving trustee later would that mean I'd have to convey the property again or is it easy once you're in PRSA to change trustee if that was decided later?

If fees much better than 0.6% are available then I'd appreciate a steer.

Thanks in advance
 
In theory it should be possible to move an asset held within a self-administered pension fund to another self-administered pension in specie, i.e. without selling the asset. But your transfer may involve moving the property into a unit trust within the PRSA.

We deal with two self-administered PRSA providers. One of them (ITC) charges 0.4% per year for a PRSA of your value and that includes our broker fee.

Regards,

Liam
www.FergA.com
 
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