Thinking of starting a pension

Lobby said:

So, in summary am I right in saying that the main points that differ from setting up a PRSA and investing directly in shares yourself are:

Money invested in PRSA is from Gross salary, i.e. tax-free

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Tax and PRSI/health levy free (e.g. up to 47% relief for a high rate taxpayer).
Growth on the fund is tax free - on a non pension unit linked fund it would be subject to 23% exit tax and on shares it would be subject tot 20% CGT.
Ability to take 25% of your pension savings as a tax free lump sum at retirement.
Pension income would be assessable for income tax whereas capital gains from other investments would not (once CGT is paid).

And obviously the PRSA is a managed fund.

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Not necessarily. It could be invested in property or an index tracking fund etc.