Advice needed on moving PRSA

[aine45]

Hi, I'm relatively new to investing so apologies if I'm asking already answered questions.
I've been following The Rebel Finance School on YouTube and it seems Index Funds are the way to go. This school is in the UK and it appears that there is a vast difference between opportunities for low cost investing there versus Ireland.

I'm paying into a prsa at the moment..it's Zurich prisma 5 but the charges seem high at 1%.
I also have a standard life fund for nearly 20 years which is worth less now than it was at the beginning.. 65k paid in and now worth just 59k!! I changed it a few months ago to 75% vanguard global stock index fund and 25% standard life corporate bond (which is not doing well). I'm not sure of charges on this.

Having read recently about Royal London Irelands new pension, I'm wondering if I'd be better off moving the Zurich prsa to that and if it's possible to move the standard life one as well? What is the closest index fund to Vanguard global with RL?
I also have 100,000 sitting in irish savings, 50, 000 in Trade Republicand 20,000 in lightyear. I'm 57 by the way. I could move the 100k there as well maybe.
Any advice is very welcome.

 

[ClubMan]

Having read recently about Royal London Irelands new pension, I'm wondering if I'd be better off moving the Zurich prsa to that and if it's possible to move the standard life one as well?

All PRSAs are totally portable without charges/penalties for moving.

Regarding Royal London Ireland you might want to read this thread:

Probably the best (cheapest) PRSA in the world?

The launch of Royal London Ireland's new pension product in late November 2024 seems to have finally offered customers accessible, lost-cost PRSAs. Through an execution-only broker, it is relatively easy to access a passive fund AMC of 0.55% or significantly lower on larger transfers. Taking...

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What is the closest index fund to Vanguard global with RL?

RL BlackRock Developed World Equity Index Fund

Both are MSCI World Index trackers.

I also have 100,000 sitting in irish savings, 50, 000 in Trade Republicand 20,000 in lightyear. I'm 57 by the way. I could move the 100k there as well maybe.

You mean move lump sums of savings into a PRSA? That probably wouldn't be a good idea due to the lack of tax relief on most or all of it. Or maybe you mean something else?

 

[aine45]

I suppose I mean investing that 100k in the same index fund..for investment purposes as its earning basically nothing in the savings account. I read in that thread you quoted that Standard life offer a good rate as well on a bigger amount or is that just relating to prsa?

 

[ClubMan]

I suppose I mean investing that 100k in the same index fund

Difficult to address that question without more information such as would be provided by a Money Makeover.

Key Post - Basic information required for the "Money Makeover" forum

It can be difficult, but please try to use a meaningful title in your thread For example "27 year old with mortgage arrears". You will get a much better and much more coherent answer if you give as much information as possible in your first post. For example, if you give your mortgage rate, it...

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I read in that thread you quoted that Standard life offer a good rate as well on a bigger amount or is that just relating to prsa?

I don't know what you're referring to here. Please clarify - e.g. by quoting or linking to the content in question.

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