Prsa

Hi,

A few months ago I left my old job (which was a permanent) to go contracting.

For the last 3 years I contributed 5% salary to the company pension scheme with Eagle Star (company also paid 5%).

As a contractor I no longer have the option of joining a company pension scheme. However, I can join a PRSA offered by the company or continue a private pension scheme with the Eagle Star or some other pension company of my choosing.

On a salary of 35K I am now paying some tax at the higher rate.

Does anyone have any advice on a good option to take?

Thanks

Who is the company's PRSA with, is it Eagle Star also?

Have you checked if you can transfer your fund from the company scheme to that PRSA?

What are the charges associated with the PRSA arranged through the company?

yes the PRSA is also with Eagle star. I am unsure of the charges associated with it. Do they tend to be quite high?

The don't tend to be anything, you should check them out.

You should also check if you can transfer from company arrangement to a PRSA or not.

CapitalCCC said:

The don't tend to be anything

Click to expand...

Not sure what that means but be aware that Standard PRSAs can charge a maximum of 5% of each contribution and 1% annual management fee calculated on the full fund value (reflected in the daily unit price). It is possible to get PRSAs at less than these charges. Non Standard PRSAs have no limits on charges.

you should check them out

Click to expand...

Agreed.