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One thing to watch out for with PRSA choice is the requirement for a LCP cert which can cost up to 2K!!! I have no idea what it adds to the client other than a handy fee for the actuary!Transfer it to a Buy Out Bond or a PRSA.
What is an LCP??The LCP cert isn't applicable on scheme wind up Brendan.
The reason behind it was to avoid the massive stakeholder pensions charging situation in the UK. The thing is, PRSAs are not used very much (but seem to get a lot of attention on AAM), so there is little need to the LCP to be produced. I doubt any actuaries are retiring on the back of all the certs they've issued!
Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
What is an LCP??
What is an LCP??
We have a thread here with a list of cheap PRSA - and the self directed prsas are cheap and have tons of options.PRSA's can be very expensive and have less fund options so be careful.
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