Contributing to different PRSA's at same time (employer and employee)

[gurubob]

I was hoping someone may be able to point me in the direction of some information on this, as have been unable to find further information myself.

I have a PRSA from a self employed period invested with Davy, invested directly in equities. After changing to a limited company structure I have a Zurich PRSA that currently funded from company contributions (equal to salary as per 2025 rules).

Currently the only contributions are to the Zurich PRSA via employer contributions, but if I was to make employee contributions would this also have to be to the Zurich PRSA (same as employee contributions) or could they be made to the Davy PRSA also?

Thanks in advance

 

[LDFerguson]

Currently the only contributions are to the Zurich PRSA via employer contributions, but if I was to make employee contributions would this also have to be to the Zurich PRSA (same as employee contributions) or could they be made to the Davy PRSA also?

You can have employer contributions going to Zurich Life and employee contributions going to Davy if you wish.

 

[ClubMan]

Assuming that the charges are competitive and comparable on both then I presume that the decision here is down to asset allocation?
My own preference would generally be towards a well diversified passive index tracker in which case maybe the employer PRSA would be a better option?

 

[gurubob]

Thanks for replies

@ClubMan. Yes, it comes down to greater flexibility in asset allocation. Both are execution only, and the Davy fund was had greater volatility in early years (in hindsight I prob should have had more funds initially to balance individual stock volitility) but over the last 7 years has interestingly proved more stable than index funds with a similar overall return. The Davy PRSA (15-18 equities) has not had some of the the high return years, it has had consistent positive returns each year avoiding the large negative returns in 2022 and flat/negative 2018.

The current contributions are to the Zurich PRSA , as I wanted to have multiple PRSA to retire at different times thanks to learnings from this site. The query was due to maintaining more flexibility in investment approach and 'right sizing the balance of funds to achieve goals of early retirement to cover years before spouses DB pension would kick in .

For me the high percentage of 'growth' stocks in many world indexes - I know there are other options, but world indexes are often default suggestion - the increasing geographical concentration of funds (US focus) and lack of dividends also needs to be considered as when deciding on overall investment strategy. I've still a decade or so til drawdown so will see what the next 7 years brings and stretegy evolves

The Davy fees have increased since inception so I did give half a thought to changing, but still somewhat undecided on that front.