What is savings transfer?
transfer is the transfer of funds from one managed product to a similar product in another fund manager or in another track, in accordance with the rules applicable to that product. In most cases, the goal is to improve conditions, adjust an investment track or concentrate management in a more convenient place.
transfer is not just a technical decision. Even if the money remains in the same type of product, it is important to understand the status of the existing fund, whether there are any special rights, and what the conditions are offered by the new provider.
What is important to check before moving
First, management fees from the accumulation and the deposit, investment track, performance over several periods and risk level are checked. Then service, information availability, digital options and adaptation to personal needs are checked.
Be especially careful with pension products: a transition may affect insurance coverage, qualifying periods or existing conditions. That's why you shouldn't make a move without understanding the consequences.
How to make a responsible decision
You should request a written proposal from the new provider and compare it to the existing documents. If the offer sounds good, we check whether it is good because of management fees, a suitable track, service or a combination of all.
A good decision is not necessarily beyond the body with the high yield in the last year. It is beyond a product that is suitable for a long time, with reasonable costs, an understandable risk and a track that is suitable for the purpose.