The cheapest PRSA?

Hi all,

with reference to the PRSA offer from Eagle Star through MyAdvisor, would I be right in saying that the 2% contribution charge reduces to 1.25% if your regular contribution exceeds €6000 per annum (€500 per month)? It appears to say that in the comparative list of PRSA's provided by the Pension's Board.
 
You can now purchase a Standard PRSA with Eagle Star with just the 1% Annual Management Charge through this www.prsas.ie website on an 'Execution Only' basis.

You have an option (not compulsory) of making a donation to a specified cause, using the money saved on the Fees that are normally charged by advisors to transact this business.

As the site is aimed at those that have done enough research on their own to make an informed decision on retirement planning, it is also possible to conduct SSIA Pension Incentive business(PRSA related) by specifically stating this in the request.

I have a connection with the site.
 
The above terms (1% Annual Management Charge Only) have been extended to include Personal Pensions (RACs) if the request for information specifically states this.
 
HTML: 
Sherman According to their website LABrokers no longer offer PRSAs.
quote from May 2006
LABrokers seem to be back in business for PRSAs ( 100% allocation and 1% mgt) , has anybody used them recently? Does their charge of €150- include VAT ?

pjq
 
Can I pay for a once off consultation with an "execution only" broker?, does the "only" apply to his/her type of business or the type of application. (if that makes sense)
 
Fund perfromance most important, not charges. People obsessed with charges when (for Example) New Ireland Fund performance appalling recently. Better to pay a little and get good advice.

I would recommend Eagle Star.
 
you can get as low as 0.4% fund management charges on Self admin pensions but its the overall package that matters. Term, charges on contributions and fund management charges all count but the performance of the funds is paramount. Some products have rebates that result in the best deal and significantly better than "low cost" PRSAs. A good Authorised Advisor is worth talking to.
 
HappyGillmor said:
Fund perfromance most important, not charges. People obsessed with charges when (for Example) New Ireland Fund performance appalling recently. Better to pay a little and get good advice.

I would recommend Eagle Star.
Click to expand...

HappyGillmor said:
Term, charges on contributions and fund management charges all count but the performance of the funds is paramount.
Click to expand...

Can you confirm that Eagle Star funds will outperform others in the future?
 
Just to double check: what is the most competitive AVC PRSA available today in the marketplace? Anything better than 1% annual management charge and 100 % allocation rate (execution only).

Thanks
Auburn
 
Would it not depend on other factors - the size of any initial lump sum investment and ongoing contributions for example?
 
hello all!

i'm currently on;

Eagle Star Standard PRSA
3.5% service charge
1% annual management fee

How does this sound? is it reasonable?

can anyone tell me what does Actual Allocation:- 100% mean?
 
The Standard PRSA charging structure is that 5% of each contribution gets deducted in charges along with 1% of the fund per year.

In your case, the 5% has been reduced to 3.5%. So that's good.

It's possible to get a PRSA with a 0% charge per contribution (i.e. 100% of each contribution invested without charge) but this is only available for execution-only transactions, i.e. you get no advice from the seller and need to be well-informed as to your correct level of contribution, choice of PRSA provider, choice of fund(s) etc.
 
thanks dave vanian.

so i think i'll keep my mangagement fee and maybe ask for some advice from my contact.

should i be putting my pension on hold? from all the turmoil going on in international markets?

my profile;
27 full time employment.
just started prsa in july 08
 
If you just started making contributions and are investing in a fund that's buying equities, you're buying units in that fund at far lower prices than they were last year. You've also got >30 years to go until retirement. Personally, I'd stick with it and buy those bargain units.
 
I already have an Eagle Star pension fund, to which I make twice yearly lump sum investments. Can I make a contribution to my existing account using broker myadviser.ie, thus avoiding the €50 setup fee charged by Eagle Star, but availing of the low fee charged by myadviser.ie?
 
Looking at the charges and fees, Eagle Star charge 0.75% pa and 2% of the lump sum invested in single contribution pension plans. You would have to study whether the waiver of the initial charge would make up for the extra cost over time due to the extra 0.25% annual charge. I imagine if you have a long time to go before retirement, paying an extra 2% upfront would be worth it.
 
Any advise on the best PRSA for a monthly contribution of about €100
 
It's been a long time since this thread was updated; who are the cheapest PRSA providers now?
 
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