Wanting to switch pension plan - Ups and downs?

Re: Irish life

Irish life
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Is it a PRSA or an occupational pension? Chances are that your employer will only contribute to their nominated scheme and if you go elsewhere you may forego their contributions. Depending on the numbers involved paying the charges that may be higher than on offer elsewhere in order to avail of the employer's contribution may make sense. And then you may be able to operate a separate pension investment for additional contributions over and above 5%. You may need to get independent professional advice on what's most appropriate for your specific circumstances and needs.
 
Re: Irish life

If you want to switch your pension to another provider with lower charges, you'd have to get the agreement of your employer first. They may or may not agree to make contributions to your chosen pension plan. If they don't agree, you're better off sticking to the one you've got. I'm presuming that the charge you mention is 5% of each contribution. The employer contribution is 5% of salary. The latter is far more valuable.

(Can I suggest that you edit the title of your post to something more relevant to your specific query? See .)
 
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