starting a pension

[krabik]

folks

how are you, i am looking in to starting a pension at tha moment for sept 06 time....

Is there anything i should look out for when doing this? I remember before there was a 5% charge for "fund administration" when i looked before and this was basically a bonus for the lad selling me the pension.....

Are there any pensions where this rate is low... like 0%

Will the pension group advise me on claiming back tax and PRSI on the money? or is that something you must do yourself?

Who are the markets leaders at the moment for pensions, I think the indo do a thing in the bisiness section about best deals etc, but havent seen it since i started loking about a pension

thanks kk

 

[ClubMan]

Are there any pensions where this rate is low... like 0%

If you read some of the many threads (e.g. ) about low cost personal pension plans and PRSAs you will see that it is possible to get such products with no per contribution charge and only a 1% annual management charge levied on the full value of the fund and reflected in the daily unit price.

Will the pension group advise me

What "pension group"? If you want advice make sure to go to an independent, professional advisor - e.g. an authorised advisor or a good multi-agency intermediary and not a tied agent/salesperson.

on claiming back tax and PRSI on the money? or is that something you must do yourself?

If you are making pension contributions out of net income and not via payroll through an employer scheme (occupational or PRSA) then you do this yourself. It's not big deal. Write to Revenue with details of your pension contributions (including the ncessary documentation such as a copy of your PRSA1 cert or Retirement Annuity Contract) asking them to grant you tax relief/refunds. Note that the October 31st deadline is also relevant here:

October 31 - what does it mean for PAYE worker?

For PRSI reclaims see here:

Claiming PRSI relief on standalone PRSA contribution
http://www.askaboutmoney.com//showpost.php?p=181261&postcount=27

Who are the markets leaders at the moment for pensions

In what respect?