Should I change payments to a new pension

S

Shelby219

Registered User
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I am not sure should I continue with my pension payments or change them.
I have two years to age 60 and I am currently paying into a personal pension ,monthly (self employed)for the last 30 odd years with Canada life (Irish life) ,when I went to top it up with an extra lump sum 2 years ago, they said that facility was no longer available and I had to start a new one ,Clear PRSA so I now am paying a small monthly sum into this as well .The old Canada life charges are .75% on the accumulation and 4.75% on the Initial, the question is should I switch my larger mothly Canda Life to the Clear PRSA one and if so what to do with the old one,thanks
 
Check to see if you have a guaranteed annuity rate on the old contract.

It was quite common for these old style contracts to have a guaranteed rate for the pension at normal retirement. Rates as high as 12% were offered.

To put this into context, Irish Life are currently offering 3.3%pa for a 60 year old today.
 
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