Woeful Fund Performance

[LDFerguson]

Can I ask would it cost this OP anything to switch their fund to another pension provider? Do pension funds sill have entry and exit charges on transfers?

If it's an AVC rather than an AVC PRSA, then as @GSheehy says, there's a requirement at the moment for a Certificate of Benefits Comparison to transfer to an AVC PRSA. This costs around €1,200 + VAT.

On an AVC there's no restrictions on charges, exit penalties etc. So there might also be a charge on the fund for transferring out. You'd only find out by asking. (An AVC PRSA has regulations around what can be charged and you cannot be charged for transferring out.)

A possible workaround would be to start a new AVC PRSA for future contributions but leave the existing fund where it is. I'd ask IPF to confirm what the ongoing charge on the fund would be in that scenario. If it's 0.75% per year and nothing else then it would be okay.

 

[CharlieMac]

Seems clear in most cases public sector workers should be making AVCs in to a PRSA AVC. But as I've discovered there are certain retirement options only available to them if their money is in an AVC. I wonder are there charges to transfer a PRSA AVC in to an AVC? Still no exit charge if transferring from that to an AVC?

 

[LDFerguson]

I wonder are there charges to transfer a PRSA AVC in to an AVC? Still no exit charge if transferring from that to an AVC?

You can't be charged for leaving an AVC PRSA but you'd need to check if the recipient AVC is going to charge you for accepting the money.