# Private Pension v's PRSA?



## annalynn (12 Jun 2003)

I am 42yrs old this year and hope to retire @ 60!  I'm a PAYE worker with no employer pension scheme.

From '94-'99 I paid into a 'With-Profits' personal pension scheme with 'The Equitable Life'!!  Once problems started with this group I redirected further contributions to a 'Standard Life' scheme and am now facing another moiety to them for tax year 2002.  I usually pay an annual lump sum.  Should I now go down the PRSA route?  

Also what about my fund with 'The Equitable Life'?  Should I leave it alone with them or should I suffer the substantial market value adjustment [17% at last reckoning]?

Your advice will be appreciated.

annalynn


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## Alan Moore (12 Jun 2003)

*PRSA vs Personal Pension....*

Couple of issues to take into account.

A)You've got to compare the charges between the two.
Chances are the charges will actually be lower in the personal pension.

B) You will get PRSI relief if you pay your contribution into a PRSA through your payroll. Doesn't apply until next year for Personal Pensions.

Equitable lifes with profits fund is mainly in bonds and gilts now rather than equities. You've got to ask yourself is this what you want.


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