You might as well go the full hog and tell us who the insurer is.I’ve removed the winky face as that came across far more conspiratorial than intended. However the perception was that the pension provider might be annoyed that the existence of this ‘direct’ model was being advertised.
Yes and the provider was Zurich. Rang the number on their site, spoke to a very helpful chap on the phone who answered lots of my questions, met him at the Zurich offices in Blackrock to sign the paperwork, money was flowing into the plan within a couple of weeks, now have a nice dashboard where I can login and see premiums paid and the performance of the various funds I chose.You might as well go the full hog and tell us who the insurer is.
100% allocation, 0.75% AMC and zero policy fees - right?
100% allocation, 0.75% AMC and zero policy fees - right?
Well, it wasn't my title - I've suggested a change to the Mods.Is this considered a great deal on pensions contributions ?
Happy to do so.@Sarenco Feel free to offer the same detail back in return
@Sarenco yes it has been a while. Not as active on the site these days - life just got a bit busier I guess
Yeah, I have no issue in sharing certain levels of detail on the pension contract I have.
Executive Pension with Zurich, via a broker set up in 2016
Regular Contributions have an AMC of 0.75%, 100% allocations and no other charges other than 8 euro a year to Pension Board. Exit charges of 5-1% over a 5 year period
Balance transferred in has an AMC of 0.5%, 101.5% allocation with no other charges. Exist charges are 4-1% over 4 years
I am sure there is better out there, but that is the deal I got at the time, comparing against 3 different brokers !
Feel free to offer the same detail back in return
Great AMC on that one - fair play !Personal pension, 99% allocation on new contributions, 0.4125% AMC (I appreciate that looks odd), €150pa policy fee.
Just to be clear, my pension (brokers quoting 1.25%, same plan direct from Zurich at 0.75%) is an EPP, not a PRSA.A PRSA with 100% allocation, 75bps AMC and no policy fees - I haven't come accross a better value PRSA.
Just to be clear, my pension (brokers quoting 1.25%, same plan direct from Zurich at 0.75%) is an EPP, not a PRSA.
@GSheehy out of curiosity, what would you consider to be a 'good deal' for an Executive Pension and/or PRSA?
I appreciate everyone has different levels of pension pots and contributions, but as a general rule of thumb....
Mythical?I had a chance to look at the mythical (EPP) pension product pricing structure that's the subject of this post.
It's of paramount importance that all the information is made available so that the folk that read these posts can make an informed decision.
You can buy the above without the policy fee and surrender/transfer charges, and with the cost of Trusteeship included, via an execution only/discount broker website on the following terms i) 100% allocation and 1% AMC or ii) 100% allocation and 0.75% AMC if the contribution is €500pm or more.
- The minimum contribution is €30 per month
- There is a policy fee of €3.50 per month
- There is a Pension Authority Fee of €8 pa
- There are reducing early surrender/transfer charges in the first 5 years of 5%, 4%, 3%, 2%, 1%
- You can buy it with 100% allocation and 0.75% AMC ( on the Matrix Range of Funds) - I doubt too many are 'sold'.
- The Director of the Company is the Trustee - IMHO the rules on this will change and Directors will have to appoint (and pay for) external Trustees or pay the provider for that service. Or, revert to a PRSA.
Fair enough, but what is considered a good deal via a broker?i think the point is you get a better deal at >500 pm via a broker
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