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PRSA Costs

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  • 28-03-2013 6:52pm
    #1
    swanvill
    Registered Users Posts: 276 ✭✭


    Hi,
    Irish Life are asking for 1% Fund mangement chg & 5% contribution charge for a PRSA.

    Does anyone know of a PRSA provider who charges are lower than Irish Life?

    Thanks


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    #2
    digzy
    Registered Users Posts: 3,049 ✭✭✭digzy


    Ah, my favourite topic!
    OP, First question is why PRSA? I bought one of these about 9 years ago.
    The 'industry' sell these as 'easy to understand' and 'simple'. The only simple thing about these is that they are a complete and utter rip off.
    You ought look at a personal pension. The fees you pay are influenced by a number of things such as amount invested, fund choice etc.

    Personally, I've invested the max amt for my age over the last few years. They've become more competitive over the years too. Here's two quotes i got lately.

    BOI; 100% allocation 0.75% mgmt charge
    Zurich;101% allocation 0.1% mgmt charge.

    I think a realistic aim for you is 1% mgmt charge with as close to 100% allocation rate as possible. They'll bite your arm off cos there's not as many suckers for them as previously.

    But please, dont get fooled into a PRSA like I did all those years ago!


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