New Ireland Passive IRIS

Cros1984

Registered User
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Good morning,

Currently 35 years old and I have been in the Passive IRIS with New Ireland for the last year but we now have to fill out the forms again as we are moving from PRSA to DC in work. I'm currently 5%/5% employer/employee split with 2% AVC on my own.

Have a friend who is telling me its a waste of time and I should go all high risk.

Any opinions would be welcome.
 
You are looking at 30+ years of investing (before retirement) so you should include more risk in your investment. If, however, you have other plans (retire early) then this should be included in your investment strategy.
Be prepared to a lot of ups and downs down the road but as long as you don't panic and sell at deeps (just to buy again at highs) you will be grand.
 
New Ireland Passive IRIS fund follows a fairly conventional "lifestyling" approach, where the asset mix becomes gradually more conservative as you approach retirement.

Whether the "glidepath" or specific asset mix is optimal can only be known for certain with the benefit of hindsight. However, as a default, "set it and forget it" approach, you could do a lot worse.
 
Thanks for the replies guys.

So essentially the life styling approach involves investing in riskier assets when you have a long period before drawing your pension. So essentially your pension is on autopilot and not being actively managed by yourself.
 
I am also invested in IRIS Passive 2034 through work, but I would prefer more equites exposure. I have enquired about switching funds.

Can I ask:

1. Has anyone got any view on the performance of this fund?
2. What are fees/charges associated with this fund?
2. Is there typically a cost/fee associated with switching?

I cant easily find any info on the above but have raised a query. It would be good to get peoples views here also if possible.
 
Is this old thread of any interest?
This Brokers Ireland report lists some charges for IRIS products in case your one is listed there?

 
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Thanks clubman.

That report seems to say the chsrge for the IRIS coukd be up to 1.573%. So a fund of 100k would be charged €1573 per annum. Does that sound like iv correctly understood that? Does it sound reasonable?Is it possible there could bb other charges that im missing such as charges on my monthly contributions or charges by the service provider as opposed to the fund?

I think the linked thread is this thread
 
1.6% for a passive fund would be extortionate.
0.5% or lower would be more like it.

Oops. Sorry about linking back to this thread! o_O
 
That report seems to say the chsrge for the IRIS coukd be up to 1.573%.
Could be. Or it could be a lot lower.

Why don’t you ask your pension trustees/administrator?

As a general rule, occupational pensions have lower costs than anything you could arrange yourself.
1.6% for a passive fund would be extortionate.
It would.

But we don’t know what AMC is being charged in this case.

And this isn’t a passive fund!
 
I think it is a passive fund.

Have asked for info on fees will report back here.

At least i now have a baseline in that 1.6% would be very high.
 
IRIS Passive isn't a passive fund?
Right...
Well, it’s not my idea of a passive fund!

It doesn’t attempt to track any identified index for starters.

And there’s no fixed or predetermined asset allocation/glide path.

That looks very much like active asset management to me - whatever about the marketing guff.
Not in my experience.
Which is what exactly?

Stands to reason that a larger investor, such as an occupational pension scheme, can access share classes in funds with lower OCFs.
 
So it’s passive because that’s what the marketing blurb says!

What index (or benchmark if you prefer) is it tracking?

How do I know the manager is not randomly picking securities?

How do I know what asset classes (never mind individual securities) it’s going to invest in at any given point in time?

There’s absolutely nothing to stop an insurer describing its investment style as “passive”.

Doesn’t mean it is anything of the sort.

No idea what this jargon is.
Ongong charges figure.

I’ve never seen an occupational-pension scheme with higher costs than an individual PRSA.
 
Passive IRIS is not really a passive fund in my opinion. There is a fund manager making decisions about asset allocation including the changes to asset allocation as the retirement date approaches. But the "building blocks" of the Passive IRIS funds - the equity content, the bond content etc., are index-tracking.
 
I think it is a passive fund.

Have asked for info on fees will report back here.

At least i now have a baseline in that 1.6% would be very high.
Did you ever get an answer @ArthurMcB ? I too am trying to find out this information. I've contacted New Ireland both personally and through my employer and after three months I've yet to get any answer.
 
I am also invested in IRIS Passive 2034 through work, but I would prefer more equites exposure. I have enquired about switching funds.

Can I ask:

1. Has anyone got any view on the performance of this fund?
2. What are fees/charges associated with this fund?
2. Is there typically a cost/fee associated with switching?

I cant easily find any info on the above but have raised a query. It would be good to get peoples views here also if possible.
New Ireland have a web portal where you can manage your own funds if you choose to. I've opted for a split with 90% into their IRIS Passive and %5 into their high risk alt energy fund and 5% into their high risk iFund Equities.

But i would love to know the fees involved.
 
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