# should I Change AVC to PRSA



## television (15 Apr 2008)

Have been reading alot about pensions on here. I have an AVC with MArsh. Paying in 380 a Month. Charges are allocation rate 94.5 management fee. 1.00% Im thinking of changing to a PRSA where i believe allocation rate is 100%. I have 3 questions 

1. Based on the fact that I am 33 and started an AVC last OCtober how much roughly in charges will I pay over 30 years if _I _stay with Marsh?

2. Should I go to LA Brokers and sort out a PRSA and leave marsh?

3. What are the problems in doing 2 above.


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## mula (6 May 2008)

Have been reading alot about pensions on here. I have an AVC with MArsh. Paying in 380 a Month. Charges are allocation rate 94.5 management fee. 1.00% Im thinking of changing to a PRSA where i believe allocation rate is 100%. I have 3 questions 



> 1. Based on the fact that I am 33 and started an AVC last OCtober how much roughly in charges will I pay over 30 years if _I _stay with Marsh?


 
ask marsh that or work it out on a calculator



> 2. Should I go to LA Brokers and sort out a PRSA and leave marsh?


 
if you understand what your superannuation and how the avc works then why not?



> 3. What are the problems in doing 2 above.


 
nothing but just make sure you do your research first theres a wealth of info on here and google as well as the different union websites.


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## willbee (16 Jul 2008)

THis post should probably be under PRSA's and Pensions, but anyway, I would like to re ignite this post because I am trying to change my AVC to Eagle Star Prsa because of the low costs/fees. Rang Marsh about it and They told me there are no fees for transfering, however they told me 13% of my fund would be due on the value of my fund (about 10K) as a *Market Value Adjustment*, This is a huge amount of my fund. I am very frustrated with Marsh about this, they can call it what they like I see this as a tranfereal fee. Can I tranfer my contributions to The Eagle Star PRSA and freeze my Marsh AVC. If so what are the implication or penalties, if any, at retirement? In other words is there any reason why I should not transfer my contributions to the PRSA?


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## Jim D (20 Nov 2008)

willbee said:


> THis post should probably be under PRSA's and Pensions, but anyway, I would like to re ignite this post because I am trying to change my AVC to Eagle Star Prsa because of the low costs/fees. Rang Marsh about it and They told me there are no fees for transfering, however they told me 13% of my fund would be due on the value of my fund (about 10K) as a *Market Value Adjustment*, This is a huge amount of my fund. I am very frustrated with Marsh about this, they can call it what they like I see this as a tranfereal fee. Can I tranfer my contributions to The Eagle Star PRSA and freeze my Marsh AVC. If so what are the implication or penalties, if any, at retirement? In other words is there any reason why I should not transfer my contributions to the PRSA?


To Willbee

Best thing to do appears to continue with you PRSA AVC and Leave you Marsh AVC money where it is for now, taking the 15% MVA on the chin make no sense. The MVA will probably be either reduced or taken away completely in time if you let enough time elapse and the Markets go back to some normality, if you have a good few years to retirement that in your favour.  The MVA is not applied because you wanting to transfer out, it’s due to the poor performance of the fund over the last few years.  Wild guess here - but it Irish Life Secure Performance Fund? Did I win bingo? No need to answer. 

Anyway you can in time re-look at transferring and a transfer to your AVC PRSA by law any transfer into PRSA AVC are free. Also if you never transfered from Marsh you will when your at retirement bring the two seperate funds together when your sorting you AVC benefits.  I understand it handier to have everything under one roof but it no great advantage to you, now or later. But it may a little simpler process to those doing the admin when you retire.


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