Banks At It Again !!
** Red Alert** Bank of Ireland is to impose negative interest rates on cash held in pensions, in a move that will hit hard people saving for their retirement. This new charge is on top of the Annual Management Charge and their sneaky allocation charge wherein they usually take 5% of every contribution!
It is the first time negative rates will have been charged to consumers.
More banks are also set to charge for money deposited in pension funds. You should only have your current account and mortgage with a bank !!
If you have a pension with a bank you need to get it REVIEWED ASAP!