0%/0.75% Prsa

M

matrix1

Registered User
Messages
33
Hi,

Has anybody been able to purchase this 0%/0.75% PRSA from Eagle Star?
"Eagle Star PRSA -- RFAJ Regular - Individual 0% 0.75%" as listed in the Pension Board spreadsheet.

Thanks!
 
OK, I have been told by a broker that this (0%/0.75%) is not available to the general public (if anybody!). Irish Life seems to have slightly smaller annual charge when the pot exceeds 150k, 250k, and then 500k (reduction by 0.05% each time).

A slightly different question: if I go for a standard (not advice) PRSA "Eagle Star PRSA -- RFAA Regular - Individual 0% / 1% (APP/J/406/S)" option, does this allow me to choose either a default investment strategy (DIS) or specific fund(s)? For instance, is it possible to select (as examples), (a) 100% 5*5 Global, (b) 50% 5*5 Asia Pacific and 50% 5*5 Europe or (c), some other mixture of funds marked with the blue PRSA logo on the Eagle Star "funds available" PDF at [broken link removed]?

Thanks!
 
CapitalCCC said:
Yes you can choose funds.
Click to expand...

Thanks - I'll have to see if there is any real benefit from a pick'n'mix of ES equity funds versus the equity rich first stage of their DIS!

Also, I will have to decide whether I am tragetting annuity or ARF (more likely the latter).

Cheers!
 
Eagle Star's 0% / 0.75% PRSA is only available for large contributions. Think €100,000+ per year. They generally use it for group schemes and high net worth individuals.

Liam D. Ferguson
www.ferga.com
 
LDFerguson said:
Eagle Star's 0% / 0.75% PRSA is only available for large contributions. Think €100,000+ per year. They generally use it for group schemes and high net worth individuals.

Liam D. Ferguson
www.ferga.com
Click to expand...

Liam, is the decision between purchasing an annuity and investing an ARF one that's made in the beginning? I presume if you want to build up a fund and leave it to your kids an ARF is the option to go for?
Thanks
 
...is the decision between purchasing an annuity and investing an ARF one that's made in the beginning?
Click to expand...

No you don't make that decision until you're retiring, although it should have a bearing on how your fund is invested as you approach retirement, i.e. if you're purchasing an annuity, you should be switching out of equities and higher-risk funds as you near retirement but if you're investing in an ARF, you could afford to stay higher-risk.

Incidentally, don't forget that you'll be taxed on a withdrawal of 3% per year from an ARF, regardless of whether or not you actually make such a withdrawal, so you might as well take it.

Liam D. Ferguson
www.ferga.com
 
If you choose the Default Investment Strategy with Eagle Star you must elect to have a Default ARF or Default Annuity Strategy at the outset.

For the last 5 years of the Default Annuity you would be invested in Bonds/Fixed Interest.

For the last 15 years in the Default ARF you would be invested in a 'managed/mixed' fund.

Of course, you can always change/switch funds if you wish.
 
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