Self Administered Pension and PRB

Z

Zutz

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I am currently a Limited company owner and have a company pension through Irish Life. I am sick of their charges and the limited investment options. I have a good understanding of stocks/shares/ETF's etc and was wondering is there an option that would allow me to invest my pension monies myself, i.e. buying individual shares/ ETF's etc. A broker has suggested that I could set-up a self administered Personal retirement Bond (PRB), this in theory would allow me to move my existing funds into it and then invest the money myself, but i'm not convinced it would allow me to make additional contributions? My pension pot and contributions will be relatively small so cost of setting up and administering will be a factor. Any advise welcome. Thanks.
 
A PRB is specifically for receiving retained benefits from an old employer paid pension scheme. You can't make any further contributions into it.

If you have a small pension pot, your options will be limited. Most insurance companies have a self directed option that you could avail of. If you don't have a big fund, you would not be that attractive to a pensioneer trustee and the annual charges wouldn't make it worth it.

Steven
www.bluewaterfp.ie
 
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