Hi all!
Had a visit from a Cornmarket advisor/salesman(and I know there's been a lot of heated debate about these guys!).He did up an AVC plan for me,contributing €35 per week until retirement Aug 2035(when i'm 60) will yield me a total of €250,000!!This all based on projected pay at 60 of €132,979......where he got this figure from,i just dont know!Then,i looked at the small print,4% on every contribution,plus 1% annual management charge.So,looked around on this site and saw people mention LABrokers who seem to just charge 1% management charge which is tempting.I know this is execution only.So,heres my questions-
-How can LABrokers offer this,minus contribution charge?
Lower costs, no sales reps on the road, no advice, execution only. All that means no entry fees.
-I know I receive no advice from them but do I receive regular updates on the funds performance or do I have to contact them.
No need to contact them, you'll get the usual annual statements.
-Cornmarket/Irish Life AVC is deducted at source whereas Eagle Star AVC is not.So,is it much hassle to organise this myself?Because,dealing with DES payroll can be painful at times!
Direct debit from your current a/c. You apply for tax relief, and will get an amended cert of tax credits.
-I began teaching at 22,are AVC's the way to go?I had 1 year break of service to do the Oz thing.So would NSP be a better option?
That is a bigger, more important question. Search AAM for the debate.