# Avc charges



## newtogame (12 Apr 2010)

I have an  avc with Irish Life  and am worried about the high charges .I pay in 500 euro a month and only 469 euro of that is invested.That works out at 6.5% in charges.The fund is spread over cash,pension protection fund and consensus fund.I would be grateful if you can give me some advice.


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## oysterman (13 Apr 2010)

http://www.askaboutmoney.com/showthread.php?t=6253

is a long thread about cheaper PRSAs/PRSA AVCs.

You're tied into Irish Life if you want a pure AVC (tax relief at source etc.) because they are the monopoly provider to members of your pension scheme. However, if you want to go the PRSA route (and are prpared to do some research and organise your income tax and PRSI relief yourself) there are some terrific deals available on an execution-only basis.


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## newtogame (13 Apr 2010)

Thanks for that .I will spend some time trying to work it all out.


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## JoeRoberts (15 Apr 2010)

You could ask your scheme administrators to negotiate a better rate with Ir Life. Ask for 105.2% allocation rate. It is available.


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## Anfear (16 Apr 2010)

I'm wondering why oysterman says newtogame is 'tied in' to irish life - are there not other vendors of group avc schemes? thanks for any enlightenment.


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## tenchi-fan (17 Apr 2010)

Anfear said:


> I'm wondering why oysterman says newtogame is 'tied in' to irish life - are there not other vendors of group avc schemes? thanks for any enlightenment.



possible Irish Life calculate how much you can contribute to your avc. If you have a regular prsa but contribute to a company pension it will create all sorts of hassle with regards to how you can contribute and avail of tax relief, and how this will affect your total fund when you retire.
Irish Life have advisers for such schemes.. other pension providers are not as good with customer service and will simply tell you to get lost rather than give you advice or access to an advisor.


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## GSheehy (19 Apr 2010)

This may help you with your research.


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## oysterman (21 Apr 2010)

Anfear said:


> I'm wondering why oysterman says newtogame is 'tied in' to irish life - are there not other vendors of group avc schemes? thanks for any enlightenment.


Iriish Life has a deal with OP's employer whereby contributions to AVC from payroll can only go to that Irish Life scheme. It is a group AVC scheme for the workers in his firm.


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## DerKaiser (21 Apr 2010)

tenchi-fan said:


> .. other pension providers are not as good with customer service and will simply tell you to get lost rather than give you advice or access to an advisor.



I doubt that


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## Anfear (5 May 2010)

isn't the "deal" voluntary (though may not be acknowledged as so) & doesn't preclude an employee choosing another vendor if they so wish?


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