Pensions 2004 - A few questions

G

Ginelli

Guest
I am interested in starting a pension. I want to get tax relief in 2004. I am PAYE. Is the deadline to contribute 31 Dec 04? If not, up to what date can I contribute in 2005 and still get tax relief for 2004?

I am thinking of taking out a pension with Quinn Life as their fund management fees are significantly less than the usual major players in the pension game. (Irish Life, New Ireland, Eagle Star...etc) I have been advised (not by a professional) to stick with the more reputable insurance companies for my pension as Quinn Life is new at the game and it could be risky to put my pension into a company that may not be around in 30 years time. Is there any truth in that?

Lastly, is there any correlation between management fees and fund performance? for example:
Do lower fees mean lower return or have Quinn Life pensions performed comparatively to the performance of some of the bigger Insurance Companies?
 
I have been advised (not by a professional) to stick with the more reputable insurance companies for my pension as Quinn Life is new at the game and it could be risky to put my pension into a company that may not be around in 30 years time. Is there any truth in that?
Click to expand...
It's pub talk. QL undergoes the same regulatory checks as every other company. There could even be an opposite arguement stating that their relative newness means that they have no 'skeletons in the cupboard' (remember Equitable Life?) which risk bringing them down at a later stage.
 
QL

Lower fund management ccharges do not necessarily lead to better fund performance. But as nobody can predict who will produce superior fund performance, you might as well stick to the quantifiables, e.g. charges.

Make sure the chosen fund matches your appetite for risk.
 
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