Cornmarket - GOOD or BAD?

M

MBoyle

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Consultation with cornmarket agent :pension Fees 5% & 1%

I had a consultation with a Cornmarket Broker today, and he told me the standard fees for any PRSA are 5% of each contribution you make, and 1% of the total value of the fund.

He said this is the norm for most PRSA's, with some at 4% and 1 or 1.5%

Is this correct - before I sign on the dotted line!
 
Has anyone any experience of dealing with Cornmarket? What is their PRSA product like? I had a consultation with one today, and I found him very pushy. I did sign up for it, but rang him back after to ask him to hold off on it as I need more time to think about it.. So any information will be greatfully recieved...
 
There was a thread about Cornmarket and teachers not so long ago - cannot find it just now but may find later - perhaps a moderator can resurrect the comments. It went as you say, pushyand not always the best
 
Do a search for conrnmarket or teacher avc and you will get plenty of hits.

Ask the pushy agent what the charges are. If the agent tries to sell you their income protection products tell them that you would like to shop around first.

In defence of cornmarket they claim to understand the complexities of the teachers superannuation scheme and that this compensates for the higher charges.
 
You can get a low-cost PRSA with 0% entry charges and 1% annual management charge. You would pay 150 euro to a discount online insurance broker to set this up, e.g. www.labrokers.ie

Or else try www.myadviser.ie

The two downsides are no advice from these type of brokers, and no salary deduction, so you must claim the tax and PRSI relief yourself.
 
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