Hi,
My employer has offered to set up an Executive Pension for me and contribute Eur3,000 per year. He has asked me to do some research as to what I want.
I have contacted Zurich and had a guy who says he works directly for Zurich came out and offered the following:
Executive Pension - (No benefit in Kind and I can contribute when finances allow)
98% Allocation
1% Management Charge
Eur 3 per month policy fee.
Can I please ask are these fees and charges about right or are they high?
Thanks for your feedback.
Susan
If you don't need advice on the product or investment funds, you can buy that product on an 'execution only' (no advice) basis online. Allocation rate 100% with no bid/offer spread so there's no entry/exit charges. The annual management charge is 1% (with the exception of external (Threadneedle) funds and SuperCapp Fund) and there's no policy fee. Because is an Executive Pension there is a Pensions Board Fee of €8.80 p.a.
If you need advice, you have to pay for it. You either pay for it via the allocation rate or separately by fee.
Thanks for your advise. Where would I go about organising an execution only pension and would this be ok for someone who has little knowledge of the markets?
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