Pension savers pay the price for banks being uncompetitive

Irish Times | Aug 1, 2020 at 7:36 AM
  • Having money in cash is never good for pensions; it is the ultimate conservative play.
  • On one level, the decision by Bank of Ireland to levy a charge on cash reserves deposited by pension funds with it is hardly surprising.
  • The obvious: Bank of Ireland has decided to levy a 0.65 per cent charge: the ECB deposit facility rate is currently 0.5 per cent.