Looking for Executive pension--best perf/value

J

johnnyg

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Hi,

I'm looking for an executive pension. I'm contracting at present, so also want that ability to keep it if i stop contributing if i go back into full-time employment...i statered one with acorn life but cancelled after getting a breakdown of there charges (already mentioned). I'm looking for advice on what is the best type for money and performance...i've been looking through the threads and can't seem to find what i'm looking for, i'm tired of meeting reps who are just interested on getting the most commission..also the range of PRSA's is staggering..what are people's experiences with the ones they have? Your help would be great..thanks, J
 
First things first - if you are planning on staying in Ireland long term and do not already own your own home then you should consider prioritising that before pension savings. Secondly hopefully you are already contributing the maximum amount to your SSIA for the remainder of the scheme?

You should probably start by dealing with a truly independent intermediary such as an Authorised Advisor or a good multi-agency intermediary rather than with sales people/tied agents who, with the best will in the world, may only offer you a sales pitch.

I'm not sure what sort of pension would be best for somebody in your employment situation or for you specifically but if a PRSA is a possibility then bear in mind that it can be possible to get these with no up front per contribution charges and only 1% annual management fee. Charges are important with any pension or savings product but so too is the choice of funds, level of service, flexibility etc. Many pension schemes these days do not levy the sort of onerous charges of your Acorn plan (described elsewhere) and also allow full flexibility in terms of stopping, varying, restarting contributions - and without taking chunks of increased contributions as charges as you experienced with Acorn!

It's difficult to recommend anything specific without a full knowledge of your overall circumstances and needs. A good independent intermediary should be able to a proper fact find and advise you appropriately though.

Disclaimer: I do not work in any capacity in the financial industry.

Hope this helps.
 
Have you considered Quinn Life? I have an executive plan with them at 1% charging structure and no other charges. Performance of my two lump sum contributitions in Oct03 and Oct04 has been v.good to date. They don't send out a rep and you need to make decisions on which fund to invest in yourself but worth considering for a broad based equity pension fund.
 
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