jubatus207
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I am 43 years old and an employee of CIE. I am a beneficiary of the CIE Pension Scheme for my regular wages. I currently earn around €57,000 gross per year.
I am seriously considering allocating 15-21% (up to €12,000 annually) of my salary towards an AVC PRSA Pension plan. I understand that the total contribution will be subject to 40% tax relief. I am currently familiarizing myself with the new regulations set to take effect under the 2025 budget and trying to understand how they will impact my plans (re "No tax relief for workers’ contributions in auto-enrolment pension scheme”).
I am currently considering three companies, one of which is LABROKERS.IE and their AVC PRSI Zurich pension plan. My intention is to contribute to this plan until I am 68 years old.
What I need right now is a low-cost method that allows me to make pension contributions, take advantage of tax credits, and build up a fund without investing in bonds, property, equities, or alternative options, as I will not accept these myself. Given the current geopolitical situation, it's important to me that my funds are invested with the lowest possible risk for the first five years. At the moment, I have a very low risk appetite.
I would like to get answers to several questions:
A) What is the most cost-effective way to establish a standalone AVC PRSA, given that my payroll has confirmed they do not have a salary deduction facility for Zurich? Which broker/company?
B) What would be the best offer on the market regarding the lowest annual management fee? (I should note that I already have offers of 0.75% with a 100% allocation rate.)
D) Are there Self-Managed AVC PRSA Pension Plans that offer both passive and active funds?
G) Is there any fund product tied exclusively to the price of gold for investment?
H) Could anyone provide more information about Early Surrender Penalties and other hidden fees and costs? Can the AVC PRSA Pension be stopped at any time? I would like specific answers regarding fees.
I) I intend to contribute €5,000-€7,000 before October 31, 2024. My understanding is that if this is done before October 31, 2024, I would be able to claim tax relief for the previous year, 2023—can you confirm this?
J) Is there an option to transfer a PRSA to a pension vehicle in another EU country in the future? Can you confirm this?
K) Is there an option to transfer from a Self-Directed AVC PRSI Pension Plan to a different product in the future?
I am not interested in any additional products when joining the AVC PRSA scheme, such as life assurance, serious illness cover, income protection, or health insurance.
I am seriously considering allocating 15-21% (up to €12,000 annually) of my salary towards an AVC PRSA Pension plan. I understand that the total contribution will be subject to 40% tax relief. I am currently familiarizing myself with the new regulations set to take effect under the 2025 budget and trying to understand how they will impact my plans (re "No tax relief for workers’ contributions in auto-enrolment pension scheme”).
I am currently considering three companies, one of which is LABROKERS.IE and their AVC PRSI Zurich pension plan. My intention is to contribute to this plan until I am 68 years old.
What I need right now is a low-cost method that allows me to make pension contributions, take advantage of tax credits, and build up a fund without investing in bonds, property, equities, or alternative options, as I will not accept these myself. Given the current geopolitical situation, it's important to me that my funds are invested with the lowest possible risk for the first five years. At the moment, I have a very low risk appetite.
I would like to get answers to several questions:
A) What is the most cost-effective way to establish a standalone AVC PRSA, given that my payroll has confirmed they do not have a salary deduction facility for Zurich? Which broker/company?
B) What would be the best offer on the market regarding the lowest annual management fee? (I should note that I already have offers of 0.75% with a 100% allocation rate.)
D) Are there Self-Managed AVC PRSA Pension Plans that offer both passive and active funds?
G) Is there any fund product tied exclusively to the price of gold for investment?
H) Could anyone provide more information about Early Surrender Penalties and other hidden fees and costs? Can the AVC PRSA Pension be stopped at any time? I would like specific answers regarding fees.
I) I intend to contribute €5,000-€7,000 before October 31, 2024. My understanding is that if this is done before October 31, 2024, I would be able to claim tax relief for the previous year, 2023—can you confirm this?
J) Is there an option to transfer a PRSA to a pension vehicle in another EU country in the future? Can you confirm this?
K) Is there an option to transfer from a Self-Directed AVC PRSI Pension Plan to a different product in the future?
I am not interested in any additional products when joining the AVC PRSA scheme, such as life assurance, serious illness cover, income protection, or health insurance.