I was offered a pension plan where the broker keeps the extra allocation rate (5%) as their commission so if I invest 10k then 10k goes to the plan ( less the pensions management fee), that's their best offer. Any views?
What is the annual management fee? Are there any other fees? Is the fund selection suitable to your needs? 100% allocation rates or pensions with no charges other than an annual management fee of c. 1% are not that unusual so there may be other options out there. Who are you getting advice from?
I was offered a pension plan where the broker keeps the extra allocation rate (5%) as their commission so if I invest 10k then 10k goes to the plan ( less the pensions management fee), that's their best offer. Any views?
What type of deal would New Ireland offer you directly (i.e. not through a broker)? Can you negotiate a lower rate of commission (i.e. broker gets 3%, you get 2% extra allocation)? Or is this a standard New Ireland deal with all brokers? To be honest, I haven't seen this type of arrangement before, and I wouldn't like to see my extra allocation going to the broker-isn't it the institution that should be paying their fees?