When you move from one job to another, what becomes of your pension benefit? Have you left pension benefits behind you when you left or changed employment?
You can take control of your pension fund by transferring your fund to a retirement bond or moving to a personal retirement savings account (PRSA ). As with all transactions terms and conditions apply, but in most cases some sort of a transfer is allowable to a contract that you can control.
Taking your benefit with you gives you control of where the money is invested and can also save on charges.
Certain occupational pension schemes offer attractive guarantees, and in such cases it may not be wise to make any changes; independent professional advice can help here.
When moving from one employment to another do not forget to consider what should happen to your pension benefit and life assurance cover. Ronan Bray of Pensions and Finance can talk you through your options on (091 ) 511 447.