Market Volatility and your pension

Your Pension is a long term investment

The ins and outs, and ups and downs of investment markets are infamously hard to understand, which can be quite confusing, especially if your pension savings are affected. Most of us don’t even think of our pension as an “investment” in the first place!

Your Irish Life pension is a long-term investment, designed to weather market ups and downs over time. In periods of volatility, staying the course and remaining steady and consistent with your savings is key to reaching your retirement goals.

We’ve also put together some great supports for those of you who want to learn more...

 
  

1.
Market update
and expert insights

Irish Life Investment Managers (ILIM) has extensive experience managing pension investments for members of company pension plans across Ireland.

Here, you can download market updates from ILIM, which are updated regularly, so you always have current expert insights at your fingertips.


Read our monthly market update to find out more about the long-term investing.

Get the latest fund price and performance information here or log on to your Pension Portal.

 

 
  

2.
Dedicated
on-demand
webinar

Here, you can watch our ‘Understanding Your Investment Choices in Your Irish Life Pension’ webinar, which was designed to give you an insight into how your pension works from an investment perspective.

If you ever wonder how the investment side of your pension works or worry about how the ups and downs of the investment markets might impact your pension savings, this webinar is well worth a watch.


During the webinar you’ll:

  • Gain valuable insights into long-term investing
  • Understand how risk is managed
  • Discover the importance of consistency

 
  

3.     Frequently asked questions

 
 

Here, you can find answers to the questions that our members most commonly ask in relation to market ups and downs and their pension:

 

 

How can I see my fund value?

 If you want to check in with your pension, log on to the Pension Portal. To get the latest fund price and performance information click here.

How can I get access to my pension online?

 Log on to the Pension Portal where you can access all of your plan information, view transactions, update contact details and download documents. If you haven’t signed up already, you can sign up here.  We have also created a short 30 sec video to help you get set up.

I'm invested in a Personal Lifestyle Strategy fund - how can I learn more?

 Saving into the Personal Lifestyle Strategy (PLS) has two main benefits over the years of saving for retirement: Managing investment risk and personalised fund switches. PLS includes a whole range of options to manage market volatility.

We’ve created this summary document, which outlines the fund options and characteristics within a Personal Lifestyle Strategy to help you better understand your long-term investment.

 

How can I make a fund switch?

 You can switch funds two ways – online or by post. The below steps are for members of Defined Contribution schemes, Additional Voluntary Contribution (AVC) schemes and PRSA policies.  

 

Online:

If you are going online, you’ll need to be at your PC or laptop, not on your mobile phone.

1. Log onto your pension online

2. Visit the Investment Section. You will see a switch funds button, click this.

3. Follow the simple steps from there.

 

 

 

 

By post:

1. Simply download and complete the form here

2. Post the completed form to

Irish Life Assurance plc

CODE

Corporate Business

Lower Abbey Street

Dublin 1

3. Alternatively, email the completed form to - Happytohelp@irishlife.ie

If you would like to contact us directly you can email happytohelp@irishlife.ie 

If you have a Personal Retirement Bond (PRB) policy you can download and complete the form here, please remember to include the name of the fund you wish to switch to and email happytohelp@irishlife.ie, alternatively you can post this to:

Irish Life Assurance plc

CODE

Corporate Business

Lower Abbey Street

Dublin 1

How long does it take to make a fund switch and when will I see the change in my investments?

 It can take up to 4 working days to show the updated investment information online. Rest assured your switch request applies from the date we receive it. Please note, the date we receive your request is defined as before 5pm, Monday - Friday.

How can I transfer my previous pension benefits into my Irish Life plan?

If you're wondering how you can transfer your previous pension benefits into an Irish Life plan, click here.

The rules around transferring benefits from a previous pension plan into your Irish Life plan will depend on a number of factors.

I'm invested in a PRSA fund - how can I learn more?

 Saving into a PRSA allows you to choose whether you want to be guided throughout your retirement journey with the Personal Lifestyle Strategy (PLS) or choose your own mix of investment funds through our ‘I’ll decide’ strategy.

We’ve created this summary document which outlines the investment choices within a PRSA and the options and characteristics within the Personal Lifestyle Strategy (PLS) to help you better understand your long-term investment.

 

4.
Your Pension
Portal

Your Pension Portal gives you 24/7 access to your pension. The dashboard lets you see the status of your pension savings at a glance, the projections tool shows you how small increases today could make a big difference to your projected retirement income in the long run, and the My Next Step tool shows you the next best step you can take today to take control of your financial future.

If you haven’t registered yet, click here to get started. Registering is quick and easy. Watch the how-to video below...

 

 
  

Current Market Value Adjustments (MVA) on Capital Protected Fund & Secured Performance Fund

 
  

A Market Value Adjustment (MVA) is an adjustment that life companies sometimes apply to certain withdrawals or switches from certain funds, usually when challenging investment conditions have adversely affected fund performance.

This adjustment is necessary to protect the interests of those long-term investors who remain in the fund.


To find out more about current MVAs – click here.

 
  

Property
Funds

Notice Period: From time to time a notice period may be put in place for any switches or encashments from property funds. 
These notice periods are a result of the illiquid nature of property and the length of the notice period may depend on how long it takes to sell the assets within the fund.		 
  

Contact us

 
 
We’re here to help! Reach out to us anytime by post, email or phone using the details below, or you can check in online via the Pension Portal:

By post
Irish Life Corporate Business, Irish Life Centre Lower, Abbey Street,
PO Box 129 Freepost Dublin 1 Ireland D01 PK03

By phone
Call 01 704 2000

By email
Email happytohelp@irishlife.ie

Or you can check in online
Pension Portal https://pensionplanetinteractive.ie/empower/login