Am I sophisticated enough to do execution-only PRSA AVC?

GSheehy said:
At a guess, I'd say 0.75% to ZL and 0.50% to advisor but best person to confirm that is the advisor.

Gerard

www.prsa.ie
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Thank you.

What would I expect to get from the financial advisor for that say .5%. A yearly check in call? In person meeting every few years?

If I transfer say 100k in to that pension from a different one I have .5% is €500 a year to him. Obviously he needs to make a profit but I guess I would expect to meet every few years to make sure things are on target?

Are my maths correct?
 
The person in the best position to tell you what you're getting/going to get for your money is the person providing the service on the terms quoted.
 
GSheehy said:
The person in the best position to tell you what you're getting/going to get for your money is the person providing the service on the terms quoted.
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Thanks. I understand that. Just wondering what is industry standard. It would help to understand that when say asking that we have a “free” yearly check in.

If it’s standard and he says no I might look elsewhere.
 
INYWIFNW said:
Thanks for all the assistance with this. I set up the execution-only PRSA AVC in the end. The paperwork was a little bit finicky but nothing too difficult. Glad to have it done now.
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I wonder who did you set up with at the end, I might start looking into this too.

Also how is it going so far?

I also wonder how much do ppl put into the PRSA AVC per month? And how much would ppl advise for someone less than 30?
 
Donrr123 said:
Also how is it going so far?
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If you're referring to returns then c. 5 months is really far too short a time over which to be assessing a pension which will usually be a multi-decade investment. Better to choose a suitable high/all equity fund/passive index tracker and leave it alone until closer to retirement, and maybe even after...
Donrr123 said:
I also wonder how much do ppl put into the PRSA AVC per month? And how much would ppl advise for someone less than 30?
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You would probably need to do a Money Makeover post to get useful feedback on that question. It's impossible to answer in isolation without much more information about your overall financial and personal circumstances.

Key Post - Basic information required for the "Money Makeover" forum

It can be difficult, but please try to use a meaningful title in your thread For example "27 year old with mortgage arrears". You will get a much better and much more coherent answer if you give as much information as possible in your first post. For example, if you give your mortgage rate, it...
www.askaboutmoney.com
 
Donrr123 said:
I wonder who did you set up with at the end, I might start looking into this too.

Also how is it going so far?

I also wonder how much do ppl put into the PRSA AVC per month? And how much would ppl advise for someone less than 30?
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Hi Donrr123. Yes, it’s going smoothly so far. Claiming the tax relief on MyRevenue was actually a little more challenging than I had expected, even with the step-by-step guides available, but it seems to have worked itself out. I was glad to get it done because I spent enough time thinking about it and putting it off.

Feel free to message me if you have any questions on the process.
 
INYWIFNW said:
Hi Donrr123. Yes, it’s going smoothly so far. Claiming the tax relief on MyRevenue was actually a little more challenging than I had expected, even with the step-by-step guides available, but it seems to have worked itself out. I was glad to get it done because I spent enough time thinking about it and putting it off.

Feel free to message me if you have any questions on the process.
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I need to claim mine on MyRevenue now for 2024. Where do I find the step-by-step guide?
 
What does 'allocation' 98% mean here? You get 98% invested, broker get 2% and fund gets AMC?

Do occupational pension funds normally have an allocation?
 
Fibbernacci said:
What does 'allocation' 98% mean here? You get 98% invested, broker get 2% and fund gets AMC?
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Not sure who gets it but it does mean that 2% is taken from each contribution and only the residual 98% is actually invested on the policyholder's behalf. 98% allocation and an AMC represents very high charges!
Fibbernacci said:
Do occupational pension funds normally have an allocation?
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Depends on the specifics of the pension.
But I think that the trend over recent decades has been for it to be much more common for 100% of contributions to be invested with most pensions.
I remember when I was first looking into pensions in my 20s and it was much more common for c. 50-100% of contributions to be taken in charges for the first year or two! :eek:
 
I'm after reading the trustee report of my occupational pension scheme and there is no mention of allocation etc. It does mention that fees of the scheme are borne by the principal employer so I'm thinking it's a 100% allocation
 
Fibbernacci said:
I'm after reading the trustee report of my occupational pension scheme and there is no mention of allocation etc. It does mention that fees of the scheme are borne by the principal employer so I'm thinking it's a 100% allocation
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A statement of contributions or a query to the pension provider/intermediary or your employer should clarify?
 
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