johnmurf83
Registered User
- Messages
- 38
The amc on the rebate product is 1.75%. Comparing the 100% allocation & 1% amc option to the 95% allocation and 1.75% amc plan with the rebate you are projected to end up slightly ahead on the rebate plan after 20 years.Apologies for reviving an an old thread, but I have been offered a similar product through Zurich which seems reasonable.
Allocation is 95% and fee is 1%. Allocation is refunded after 15 years, and financial advice is available.
Is there an obvious catch?
Could anyone explain why people tend not to stick with the 15?
Would you be better off going with an execution only discount broker if you knew how to manage the fund yourself?
small print:
Refund of management charges
In the case of the Advice PRSA (Rebate) only, if you take your retirement benefits on or after your selected retirement date, your selected retirement date is at least 15 years after the start date, and you did not cease making contributions during any 13-month period, we will increase the benefit payable by refunding any management charges deducted from your contract in respect of regular contributions since the start date. We will not refund any additional management charges levied on certain funds
The amc on the rebate product is 1.75%. Comparing the 100% allocation & 1% amc option to the 95% allocation and 1.75% amc plan with the rebate you are projected to end up slightly ahead on the rebate plan after 20 years
STD PRSA 100pm level premium, 100% alloc, 1% amc gives projected value of €31318.51 after 20 yearsHow can that be the case?
No, the way the rebate plan works is set up is 95% allocation and 1.75% amc. After 15 years (assuming premiums are paid for 15 years) the 1.75% that has been deducted is credited back to the PRSA account.
The projections show the effect of the credit of the rebate at year 20
No, the way the rebate plan works is set up is 95% allocation and 1.75% amc. After 15 years (assuming premiums are paid for 15 years) the 1.75% that has been deducted is credited back to the PRSA account.
The projections show the effect of the credit of the rebate at year 20
Refund of management charges
In the case of the Advice PRSA (Rebate) only, if you take your retirement benefits on or after your selected retirement date, your selected retirement date is at least 15 years after the start date, and you did not cease making contributions during any 13-month period, we will increase the benefit payable by refunding any management charges deducted from your contract in respect of regular contributions since the start date. We will not refund any additional management charges levied on certain funds
I have been offered the rebate 95.75% allocation + management charge 1.75% after 15 years rebate to work out at an effective rate of 0.8%. Must put in minimum of 300 a year for 15 years to get this. Have any signed up to this type with Zurich.
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