Pension - Buy Out Bonds Query

That seems like a good deal ! Can you please give any more details which product and company ? Is the allocation percentage & amc anyway related to the fairly large fund value or would they apply to lower amounts also ? Kind regards

jxwell said:

That seems like a good deal ! Can you please give any more details which product and company ? Is the allocation percentage & amc anyway related to the fairly large fund value or would they apply to lower amounts also ? Kind regards

Click to expand...

Thats through AIB, but, it's an Irish Life product, as they re sell their products, but they can offer lower charges (than standard)due to the volumes they sell for Irish Life. I have not got the product name to hand.

These are standard charges as far as I know(through AIB), in fact, I might be able to do better on the charges given the size of the fund. This just involve asking the sales person to push for a better deal.

Have not finished shopping around though, it's well worth doing extensive research on this.

fayf said:

Thats through AIB, but, it's an Irish Life product, as they re sell their products, but they can offer lower charges (than standard)due to the volumes they sell for Irish Life. I have not got the product name to hand.

Click to expand...

This is utter BS and typical of the bank direct sales spiel. They tell you that you're getting something special but it's just not true.

It looks like the 'Complete Solutions' product. 101% allocation but exit penalties of 5/5/5/3/1% in years 1 to 5. 3% commission.

I've yet to see a pension, savings or investment product available from a bank that you can't buy cheaper elsewhere on the market.

GSheehy said:

This is utter BS and typical of the bank direct sales spiel. They tell you that you're getting something special but it's just not true.

It looks like the 'Complete Solutions' product. 101% allocation but exit penalties of 5/5/5/3/1% in years 1 to 5. 3% commission.

I've yet to see a pension, savings or investment product available from a bank that you can't buy cheaper elsewhere on the market.

Click to expand...

I agree with you completely, which is why I am still looking around.
To be fair, the exit penalties for the the first 5 years, are very common with most(but not all,suppliers) for this product.

I've been around the block a few times, and I have not purchased any financial product through a bank, since the 1990's, for the exact reasons you specify.