About the monthly charges:
- Policy fee deduction : 4.16 euro
- Pensions Board Fee Deduction: 0.50 euro
- Pension Administration Fee: 19.68
I'm confused - these details don't seem to match up.
The pension authority charge €6 a year per member to pension schemes. This is the charge being passed on to the member. Of course the pension authority must be flush with cash from all the funds flowing into PRSAs recently where they take 0.05% of AuA annually100% allocation is great.
FMC of 0.65% sounds like Fund Management charge of 0.65%, which also sounds okay.
What is "Pensions Authority Fee"?
What is Member Charge?
View attachment 9491
Is it because I am investing in 3 funds?
Why do you think that it's 0.3% and €78,820 and not some other set of figures that match the c. €19.68 monthly charge? E.g. 0.2% and €118k?Looks like a pension fund of around €78,720 with a 'pension fee' of 0.3% per annum(applied monthly) on top of whatever the fund itself deducts.
Huh? What hysteria? @franc82 is simply trying to understand the charges on their occupational pension. Seems perfectly reasonable and not at all hysterical or foolish to me.This is part of the hysteria created on discussion forums where pension holders don't know what they have, struggle to get accurate information from those being paid to service the pension, assume that they are being fleeced because some fool on Reddit misrepresents and leaves out a whole heap of information on the what they themselves being charged and then, to cap it all off, you have moderators who fan the flames by agreeing 'that it's all terrible and the industry is a scam' just to get upvotes from an unknowing audience.
It's someone else's fault that those, people charged with cutting out the absolute BS and misinformation, cannot grasp how the charging structures work in the first place.
And, to cap it all off, that unknowing audience then think they have enough research and knowledge to do an execution only transaction, just because they read it on Reddit.
Gerard
www.prsa.ie
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