25yr old starting prsa

[Paddylast]

My daughter has just signed up (through her workplace) for a PRSA and has received the policy details with the usual cooling off period of 30 days.
She has asked me if it appears ok but I have no knowledge of these. Can anyone tell me if the following is good or bad.

She is to contribute €270 pm. The contribution charge on total regular PRSA contributions at commencement date is 5% of the contribution. The contribution charge for future Total Regular PRSA contributions is determined in accordance with:
Total Reg. PRSA Contrin
Less than €12,000 pa = 5%
More than €12,000 pa = 3%

Single contributions is determined by contrib. less than €20,000 = 5%
and over €20,000 = 3%

The annual fund related charges are:
Pension unit fund - Retirement fund 1% management charge p.a.

Can anyone comment on these charges. Are these standard or could she get better rates elsewhere?
Thanks in advance.

 

[ClubMan]

Is her employer contributing to the fund? If not then she might be better off shopping around for herself since it's possible to get PRSAs with no per contribution charges and just the 1% annual management charge by paying a once off arrangement fee of a few hundred euros to a broker. See here for example:

Execution Only PRSA / Pension Broker

Note that having such a standalone PRSA does mean that the holder must claim tax and PRSI relief themselves rather than it being granted automatically at source via payroll.

 

[Paddylast]

Thanks Clubman,
No, her employer doesn't pay anything towards her pension. I think I will try to find an independent broker and pay the once off arrangement fee. The link you provided is good on one level but confused me even more as their seems to be a difference of opinion amongst the contributors!!