Hi,
I've just changed jobs, and previously had my pension invested in an ORSO account. As I understand it, I'll need to find a new home for my MMB (Minimum MPF balance), whilst the remainder (over and above MMB) will be transferred to my bank account as cash.
This link suggests that if I do nothing for 3 months, my existing scheme provider (HSBC) will set up a "Personal account", with the same investment instructions as I had previously, and keep my MMB in there.
I was happy (enough) with how HSBC was treating my pension, so to me it seems like this would be the far easiest option? Just do nothing and let them open a new account, and things tick along as-is?
Is there anything obvious I'm missing - any reason I should definitely not do this, and go the trouble of researching and finding a new MPF provider? (As I said, I was relatively happy with their performance).
The other question is what to do with the rest! Paying down my overseas mortgage is tempting, but unfortunately not a good time from an FX perspective. Without trying to solicit financial advice, has anyone been in this situation and found a fund they've been relatively happy with?
TY!
Febs.