mindlessmax
Registered User
- Messages
- 9
Hi
I've been meaning to set up a PRSA for a long time. I have read a lot of threads here but am stuck in finding a clear answer to the following:
In case it's relevant, I am 44, mortgage is paid off and we don't plan to ever move, good amount of savings, some personal investments, salary c. €300k. No interest whatsoever in stock picking or trying to beat the market.
- is the Standard Life/Zurich via LABrokers/PRSA.ie the lowest cost option at 100% allocation and 0.75% AMC?
- I will be contributing about €30k p/a via employer (I am a director) without any self top up. I have a few years of this entitlement that I can take in one go, so about €90k initially. I previously saw 0.5% AMC for this level of contribution but are those days gone?
- One thing I'm looking for is self-directed and allocation to passive funds - so I'm looking for not just the cheapest PRSA but also one that gives access to a decent range of funds. Again, is Standard Life/Zurich option the best for this? I will be picking mainly a range of ETFs that track global stocks so don't need anything too fancy.
- Any other fees (excl the contribution rate, AMC and individual fund charge - e.g. 0.02% p/a for a S&P500 ETF) that I should be wary of when evaluating accounts?
- I have an older pension account managed by a fund manager who charges high fees (c. 2%) for under-performing stock picking, value of the account is c. €350k - way under-performing versus index funds over the last 5 years. Any thoughts on whether I should transfer this at the time of set up new PRSA? A lot of the investment value is below NAV and he's telling me it's good for the long-term, but I'm not sure our incentives are aligned.
- any other advice you think might be useful?
Thank you very much - really appreciate any advice you can provide.
Max
I've been meaning to set up a PRSA for a long time. I have read a lot of threads here but am stuck in finding a clear answer to the following:
In case it's relevant, I am 44, mortgage is paid off and we don't plan to ever move, good amount of savings, some personal investments, salary c. €300k. No interest whatsoever in stock picking or trying to beat the market.
- is the Standard Life/Zurich via LABrokers/PRSA.ie the lowest cost option at 100% allocation and 0.75% AMC?
- I will be contributing about €30k p/a via employer (I am a director) without any self top up. I have a few years of this entitlement that I can take in one go, so about €90k initially. I previously saw 0.5% AMC for this level of contribution but are those days gone?
- One thing I'm looking for is self-directed and allocation to passive funds - so I'm looking for not just the cheapest PRSA but also one that gives access to a decent range of funds. Again, is Standard Life/Zurich option the best for this? I will be picking mainly a range of ETFs that track global stocks so don't need anything too fancy.
- Any other fees (excl the contribution rate, AMC and individual fund charge - e.g. 0.02% p/a for a S&P500 ETF) that I should be wary of when evaluating accounts?
- I have an older pension account managed by a fund manager who charges high fees (c. 2%) for under-performing stock picking, value of the account is c. €350k - way under-performing versus index funds over the last 5 years. Any thoughts on whether I should transfer this at the time of set up new PRSA? A lot of the investment value is below NAV and he's telling me it's good for the long-term, but I'm not sure our incentives are aligned.
- any other advice you think might be useful?
Thank you very much - really appreciate any advice you can provide.
Max