# Eagle Star Standard PRSA



## stobear (15 Sep 2003)

Hi 
Can someone run through the 5 different Standard PRSA's offered  by Eagle Star and explain the differences.

My circumstances are
Existing fund with Mercer, no contributions made for some time
New employer will open a PRSA for me and contribute 6% pa. They will pick up the 5% contribution and 1% management charge, but in case they pull the plug and I need to run the PRSA myself I would like a minimun contribution charge, so I am thinking the RFAA or RFAJ products would be suitable. 

Any ideas/suggestions?

Thanks
Stobear


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## Dermot (15 Sep 2003)

*Minister of mysterious PRSAs at Eagle Star*

I'm afraid the availibility of some of our PRSA products to the general public is classified information. What I can tell you Stobear is that we do indeed have a stockpile but we have no intention of going to full scale war as stategists in command tell us that we cannot afford to loose any of our valuable 'ground troops' at this early stage.


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## Savy (15 Sep 2003)

Stobear,
You need to keep in mind that the PRSA is YOURS.
Your employer may assist you in setting it up with Eagle Start but it is still yours.

You say that 


> They will pick up the 5% contribution and 1% management charge


It is your pension so your fund will be charged the 1% management charge. 5% of the contributions your employer makes will be taking off in charges.

You will also be able to make contributions yourself.
You probably need to talk to your HR department or whoever is looking after the set up of the PRSA's. 
They will explain things in more detail.

The five funds may relate to different risk stategies.
You can have your fund follow a pre-determined path(Default Investment Strategy).So that as you get closer to retirement your fund are automatically moved to lower interest/higher security funds.

S


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## justlikethat (23 Sep 2003)

Eagle Star's website has been recently improved and you can get information on their Standard PRSA product online at:

[broken link removed]

Also, in terms of being approved by employers, they seem to be doind quite well:
www.bizplus.ie/?ns=7257


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## stobear (22 Oct 2003)

Sorry to tickle this thread again, but I need clarification on a couple of points.

1. Eaglestar seem to be unaware of the lower mgmt fee on two of their products, I suspect this is due to someone trying to get a higher commission, but if they insist there is no fund with lower than 5% contributions what approach should I take?

2. I have a fund from a previous employer, yet Eagle star seem to say only the AVC portion of this fund can be transferred to the new PRSA, but not the entire fund. This seems to contradict the PSRA FAQ posted on this BB

Thanks
Stobear


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## joralcork (29 Oct 2003)

*Go independent*

I'm getting an Eagle Star PRSA with 1% management fee and no 5% entry charge. I'm paying €100 commission myself to the broker. This was organised on an execution only basis - as i knew what i was doing. I tried to get the .75% management fee but it looks like the Pension board has approved the product but Eagle star are not making it available.


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## stobear (29 Oct 2003)

*Re: Go independent*

Can they do this (withdraw a product) without approval from the pensionsboard? Do you mind telling me who your broker is?

Is the 100Euro a one off payment? and that's it?

Thanks
Stobear


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## Alan Moore (29 Oct 2003)

*My understanding of the....*

... Eagle Star PRSA with the 0.75% management charge is that it is available for large bulk applications. I took this up with Eagle Star after someone on AAM stated that had received the benefit of this product. Once a product is approved by the Pensionsboard, doesn't mean they have to offer it to all.


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## Alan Moore (29 Oct 2003)

*PS*

Stobear, a lot of brokers out there will set up your PRSA for 100 euro provided you understand that there is no advice involved.


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## Mat (29 Oct 2003)

*Eagle*

"I tried to get the .75% management fee but it looks like the Pension board has approved the product but Eagle star are not making it available. "

Did Consumer Choice assume Eagle Star would make it availible when they ranked Eagle Star so highly??


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## Alan Moore (29 Oct 2003)

*Knocking Eagle Star*

I doubt Consumer Choice were even aware on the contract with 0.75%.

And I don't see why companies cannot offer deals based on economies of scale. Happens all the time, only PRSA structures have to approved by the PB.


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