National Pension Helpline is not a broker. It's a web-marketing company. They use the website to generate enquiries and then they pass these enquiries on to a broker for a fee. It's been pointed out here on Askaboutmoney before that some of the information posted on the website is wrong.
Cheapest option will be an execution service like www.labrokers.ie or www.prsa.ie but they don't give any advice so you need to know exactly what you want and what you're doing.
I would need some advice. Who would be the best and cheapest broker?
I have read Merrion Investment Management fund is the best performing pension fund in Ireland.
I don’t wish to be facetious, but if I knew which fund was going to give the best return, I would be posting this sipping a Margarita on the beach in the Bahamas. The “best fund” depends on a number of factors, including your attitude to investment risk and your investment term (how many years to retirement).Ok, Can you please suggest a "good" broker then? Also if any one could suggest which fund I should invest in to get the best return.
I don’t wish to be facetious, but if I knew which fund was going to give the best return, I would be posting this sipping a Margarita on the beach in the Bahamas. The “best fund” depends on a number of factors, including your attitude to investment risk and your investment term (how many years to retirement).
It’s easy to say what fund produced the best return in 2023, but that doesn’t mean it will also produce the best returns in 2024, or 2025.
If you have a reasonable number of years to go to retirement (investment term), then an all-Equity fund is probably the best (say an Indexed Fund). If however you only have a short period to retirement, then a less risky fund may be better,( just benefitting from the tax relief).
When you say you need “advice”, you don’t specify what type of advice. Is it to calculate how much you might invest in AVCs (ensuring you don’t exceed Revenue limits)? Is it to recommend an investment strategy?
Cornmarket are very familiar with Civil Service pension structures and AVCs related to same. But they charge an “advisory” fee. You could get their advice (and pay their fee) and then seek to replicate that on “an execution only” basis.
Perhaps if you posted more information:
Age
What Civil Service Scheme you are in (eg Pre 1995, Post 1995 or newer Single Public Service Scheme)
Salary
Service by retirement age
Possible level of AVCs
you might get more tailored advice.
Before considering AVCs, you need to establish whether it is possible to retire and claim the work pension at age 55 in the SPSPS.
Hello there,Age: 49
Pension type: Single Public Service Scheme
Salary: 55,000
Prefer to retire in 6 years time
Main aim of joining an AVC is to reduce the tax I pay
I would like to get an unbiased advice. That is why I am not sure which broker to contact.
I don't use it myself, but I know public sector colleagues who have their AVC deducted at source through IPF so there may possibly be some alternatives to Cornmarket.Hello there,
I too am 'new entrant' & member of SPSS.
Cornmarket are the only broker (AFAIK) that can set up deductions from source. I'm with them for that reason. I'm not overly happy with New Ireland fund I'm in but I'll stick with it for now.
Cornmarket are the only broker (AFAIK) that can set up deductions from source. I'm with them for that reason. I'm not overly happy with New Ireland fund I'm in but I'll stick with it for now.
It's IPF who sorted all this for me & put me with Cornmarket. They are the Forsa approved provider of choice. I'm HSE worker BTW.I don't use it myself, but I know public sector colleagues who have their AVC deducted at source through IPF so there may possibly be some alternatives to Cornmarket.
https://ipf.ie/avc/
I didn't know that Dave, just a once off effort with revenue & then AVC deductions at source?If you set up an AVC PRSA with a provider of your choice, you notify Revenue of it once, Revenue increase your tax credits and from then on you get the tax relief via payroll anyway.
I went to a lunchtime talk from IPF at work recently, but there were a number of red flags for me as I felt the allocation rate was very low and there was no choice in terms of funds. From memory I also think the AMC was quite high. Overall the only benefit was the deduction at source.It's IPF who sorted all this for me & put me with Cornmarket. They are the Forsa approved provider of choice. I'm HSE worker BTW.
Thanks for the lead. Was there any setup fee charged?I had my AVC with Irish Life, set up by Cornmarket for €595 once-off. AMC 1%. But had no say in what fund it was in, just high, medium or low risk options.
I hwas not happy with it's performance so recently switched to Standard Life, set up by Liam Ferguson who gets his fee from Standard Life. AMC 0.9%. Can pick your own funds, I'm doing 100% Standard Life Vanguard Global Stock Index Fund
I didn't know that Dave, just a once off effort with revenue & then AVC deductions at source?
Sorry for being completely clueless but could u step me thru it....
Is there a particular revenue form?
Then I contact payroll?
Then I just choose provider etc myself.
No fee for me, he gets it from Standard Life for sending the business their way.Thanks for the lead. Was there any setup fee charged?
Any one else here using Standard Life? Seems to be a good option.
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