Royal London Ireland enters Personal Retirement Savings Account market

The person that's selling you the product, or the one that you're buying it from, will dictate the charging structure. There are 33 structures. If you think that's a lot, it's not.

If price is someone's only consideration then they definitely are a player. They have active and passive (Blackrock) options and 8 passive are priced at 0.05% less than the active options. RL is a mutual so they have a unique Value Share feature . At the company's discretion whether they declare an award or not but in last two years it translated as a 0.13% reduction in AMC for each year (T&Cs apply).

There are just two allocation rates (98% - less than €100pm or €10,000 lump sum - & 100%) and AMCs can go up as far as 1.50% pa. There is no Standard PRSA option, just Non-Standard.

Good to see more choice. They might struggle with brand awareness here. THB, I've no experience of dealing with them in the past so I don't know what their processes are like and how quickly they respond with general or technical queries. It might take them a while to get a foothold as decisions on choice of PRSAs (and potentially Vested PRSAs) aren't taken quickly. The changes from unlimited to 100% salary on contributions may also affect volumes. But, overall, very welcome competition in a now very competitive space.
 
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