francescoli
Registered User
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Cornmarket charge €595 consultancy fee and 1% AMC.
It also mentions a contribution fee of 4% for each single premium contribution and 0% for each regular contribution.
Whats the difference between the 2 types ?
Am I correct saying 100% of my weekly/fortnightly contributions will be invested and ill only be paying the 1% AMC fee after I pay the €595?
I will have 40 years service when I'm 62 ,if I retire early can I take a lump tax free or is it unlikely to be much of a sum unless I go before my 60s?
If I go with some provider other than Cornmarket will it be execution only as I would prefer something that I can get advice as id have no idea about these things.
I have 20k sitting in a savings account that I need to do something with but also not sure my best course of action .
I will have 40 years service when I'm 62 ,if I retire early can I take a lump tax free or is it unlikely to be much of a sum unless I go before my 60s?
Your lump sum is calculated based on a reduced salary figure ("pensionable salary") that takes account of the State Contributory Pension. Revenue will allow your lump sum to be calculated based on your actual salary (including some non-pensionable elements, if applicable.) Your AVC can be used to bridge the gap between the two.
As an aside it is possible to make a lump sum payment to an AVC if one comes into an inheritance or similar or can it only be to the max amount permissible in a particular yea.
Hi I'm looking for some advice please.
I joined the public sector in 2005 and I'm 38 now.
I've recently started thinking about starting an AVC.Cornmarket are the approved provider with the employer but id go with any provider once its not much hassle.
Cornmarket charge €595 consultancy fee and 1% AMC.
It also mentions a contribution fee of 4% for each single premium contribution and 0% for each regular contribution.
Whats the difference between the 2 types ?
Am I correct saying 100% of my weekly/fortnightly contributions will be invested and ill only be paying the 1% AMC fee after I pay the €595?
I will have 40 years service when I'm 62 ,if I retire early can I take a lump tax free or is it unlikely to be much of a sum unless I go before my 60s?
If I go with some provider other than Cornmarket will it be execution only as I would prefer something that I can get advice as id have no idea about these things.
I have 20k sitting in a savings account that I need to do something with but also not sure my best course of action .
Any advice would be appreciated.
Hi
To be honest l would have to do a bit of research to get up to speed on all this but l take your point. I think their plans/investments are balanced with regard to risks and what stage you are at, whether young or old.
l dont even know if a person can move an AVC fund or release part of it before maturity.
You have a point with the monetary return. Year on year,, l look at my print out and the increase in the AVC never really goes beyond the tax rebate allowable,, my money might as well be in SSIA style arrangement. Am l naive, but expect at some stage they would have invested in something that had a very good return e.g. Apple or equivalent up and coming.. so that at least l could feel satisfied with the commitment l am making....
though l could mandate my fund manager to move more of my money into higher risk but higher return portfolios.....
How do Cornmarket compare to other funds ?Hi Marco,
Did you stick with Cornmarket?
AMC of 1% is reasonable and handy to have contributions taken at source but...
Fund performance is very poor
Over last 5 years, the 3 funds PA are: 2%, 1.6% and .86% which are at minus when you include amc, consult fee and inflation.
View attachment 4692Fund Prices and Performance | Investment Funds Ireland | Irish Life
Get the latest fund price and performance information and download the latest factsheets for certain funds.www.irishlife.ie
I stand to be corrected here. I'm currently with Cornmarket as well but trying to figure out best PRSA option for me now.
View attachment 4692
I compared with vanguard in last postHow do Cornmarket compare to other funds ?
Are they very poor or just is that similar no matter who the provider is?
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