# AVC's + charges 20%



## athens2004 (30 Nov 2007)

Just about to start an AVC, the charges they have told me are 20% for first year + .75% for some other part of it. After that it will be 2% + the .75% each year.  Would this be an average charge....the sales man tells me this is the best around that some places charge up to 50%.  Any feed back would be greatly appreciated before I sign on the dotted line.


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## ClubMan (30 Nov 2007)

Absolutely crazy charges!!! I thought that charging structures like that were gone out with the Indians. You should be looking for something more like 0% on each contribution and an annual management fee of c. 1%. Of course charges are only one aspect of choosing an appropriate pension product but they are an important one.


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## asdfg (1 Dec 2007)

Have a look at . Most insurance companies offer more or less the same charges. Afaia quinn does not deal with brokers   

No connection with Quinn life


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## athens2004 (1 Dec 2007)

Ok thanks I think I'll stay clear of him. I was annoyed anyway as the only charge mentioned on website was the .75% and any paper work never mentioned any charge's it was only when he phoned me on Friday and I asked him he told me.


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## mula (1 Dec 2007)

athens2004 said:


> Ok thanks I think I'll stay clear of him. I was annoyed anyway as the only charge mentioned on website was the .75% and any paper work never mentioned any charge's it was only when he phoned me on Friday and I asked him he told me.


 
charges should be on the quote or in the booklet he must disclose the charges to you before you sign up for anything.


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## Dave Vanian (3 Dec 2007)

> the sales man tells me this is the best around ...


Ask the salesman to put this absurd claim in writing.  Watch him squirm.


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## athens2004 (3 Dec 2007)

I just e-mailed him to tell him I was not going through with it.  It seems so wrong that on the website they only mention the .75% charge. Boy am I glad I rang him to ask about charges.  Thanks everyone for all your replies.


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## Slim (5 Dec 2007)

You may find that the AVC provider approved by your employer, and the only one who can get your contributions deducted from salary net of tax relief, is the one who charges 20% + in year 1 with repeat fees each year. If you opt for an AVC PRSA with another firm, you may have to pay out gross and arrange your own tax refund.

Slim


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## ClubMan (5 Dec 2007)

Yes - but if you make regular contributions to a "standalone" pension then you will get tax relief via an increase to your tax credits and/or standard rate band although you will still have to claim _PRSI_/health levy relief manually at the end of the tax year.


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