The management charge of 1% is probably the same for both. What is the contribution charge i.e. how much of your money is actually invested. The biggest charge that can be taken is 5%.
As for funds, what fund are you invested in and what Zurich Life fund are you comparing it to?
There's also the issue of the Cornmarket one being facilitated through payroll. My understanding is that with a Zurich Life one, you have to claim the tax relief yourself.
Hi, The only details of the fund that he's proposing to move me to are "Standard PRSA AVC with Zurich." He ads "In relation to the existing amount in Irish Life 100% of your money will transfer and incur an ongoing charge of 0.75% a year.... On this 96.%5 of each contribution is invested and carries and ongoing charge of 1% a year."
That's all I know about the proposed alternative.
The department that Aodhán works for could have a PRSA 'Letter of Appointment' set up with Zurich Life. If there is, then there's no issue with doing it through salary deduction. If there isn't, then he could ask them to set one up.
There's no obligation on the employer/department to do this (because there's a facility in place already) but; if there are significant cost savings to be made in terms of AMC & contribution charge for the member then, I think, they'd have difficulty in denying access. I've seen it done a good few times.
Anybody?
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