What is a pension plan transfer? What is the difference between an entrance transfer and an internal transfer?
A transfer involves changing the money that you currently have invested in a given pension plan to another pension plan. Both the entrance transfer and the internal transfer are exempt from taxation.
In entrance transfers, the money goes from a pension plan with another entity to one with Openbank.
And the internal transfer consists of passing funds from pension plans that you currently have contracted through Openbank to other funds from our portfolio.