Hey guys
I currently have a small PRSA with Zurich (€14k current value) but am considering moving it to Davy to give me the option to purchase ETF's, and avoid the dreaded deemed disposal tax.
The PRSA is following Zurichs Default Annuity Investment Strategy, which is 58.36% invested into the Performance Fund and 41.64% into the dynamic fund and I am now putting €600 per month into it
I want to invest in VWCE and would like to reap the benefits of the compound effect, which DD kills.
Currently my Zurich PRSA has 100% allocation with an AMC of 1%.
I see that for the Davy PRSA, there is a charge of 0.06 + €25 for foreign transactions, plus 0.75% Annual charge.
That's what I have been reading online, but when I download Davy's fee structure PDF, it says there is a Stamp Duty charge of 1%, which brings the total to 1.75%
I have attached screenshots of Davys fee schedule here:
[broken link removed] [broken link removed]
Am I reading this correct guys?
The total charge if I were to buy VWCE in a Davy pension wrapper is 1.75% + 0.06% + €25?
The Davy PDF also states
"Assuming a gross yield of 7% per annum, the impact of costs and charges is to reduce yield by 1.75% in the first year, and by 1.15% PA over a 5 year holding period"
What exactly does this mean? They take 1.75% in the first year, then 1.15% for 5 years? Then what happens in year 6?
If anyone here has the Davy PRSA, how do you find the user experience / interface of the Davy website for trading? Is it simple enough?
Im just looking for some feedback really from anyone who uses Davy for their PRSA, and for confirmation that the annual charge is 1.75% instead of 0.75%.
The main reason I am considering moving my PRSA to Davy is because I will be able to avoid deemed disposal tax and also VWCE is more diversified.
Or is it a terrible idea to try and self manage my pension and should i just leave it with Zurich to handle?
Thank you in advance guys
I currently have a small PRSA with Zurich (€14k current value) but am considering moving it to Davy to give me the option to purchase ETF's, and avoid the dreaded deemed disposal tax.
The PRSA is following Zurichs Default Annuity Investment Strategy, which is 58.36% invested into the Performance Fund and 41.64% into the dynamic fund and I am now putting €600 per month into it
I want to invest in VWCE and would like to reap the benefits of the compound effect, which DD kills.
Currently my Zurich PRSA has 100% allocation with an AMC of 1%.
I see that for the Davy PRSA, there is a charge of 0.06 + €25 for foreign transactions, plus 0.75% Annual charge.
That's what I have been reading online, but when I download Davy's fee structure PDF, it says there is a Stamp Duty charge of 1%, which brings the total to 1.75%
I have attached screenshots of Davys fee schedule here:
[broken link removed] [broken link removed]
Am I reading this correct guys?
The total charge if I were to buy VWCE in a Davy pension wrapper is 1.75% + 0.06% + €25?
The Davy PDF also states
"Assuming a gross yield of 7% per annum, the impact of costs and charges is to reduce yield by 1.75% in the first year, and by 1.15% PA over a 5 year holding period"
What exactly does this mean? They take 1.75% in the first year, then 1.15% for 5 years? Then what happens in year 6?
If anyone here has the Davy PRSA, how do you find the user experience / interface of the Davy website for trading? Is it simple enough?
Im just looking for some feedback really from anyone who uses Davy for their PRSA, and for confirmation that the annual charge is 1.75% instead of 0.75%.
The main reason I am considering moving my PRSA to Davy is because I will be able to avoid deemed disposal tax and also VWCE is more diversified.
Or is it a terrible idea to try and self manage my pension and should i just leave it with Zurich to handle?
Thank you in advance guys