BIAM - charges

M

muesli

Registered User
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hi all,

can anyone tell me what BIAM's annual charge is for their

- Managed Fund
- Consensus Fund

(I tried their website and it keeps crashing my IE ! Not a good sign)

Also, I'm right in saying there is nothing to stop me setting up a (potentially lower cost) PRSA aswell as contributing to my company's plan ?

Many thanks in advance for any replies,
m.
 
Apologies, I found this in another thread wrt my first question

Fund Annual Management Charge
The International Fund 0.75%
The Managed Fund 0.75%
The Cash Fund 0.30%
The Consensus Fund 0.375%

m.
 
Bear in mind that there may be other charges in addition to the annual management fee - e.g. per contribution charges (including less than 100% allocation rates or bid/offer spreads) etc.
 
I don't think that that link explicitly states that a member of an occupational scheme cannot also have a PRSA. It says that excluded employees can open one but it does not say that "non excluded employees" cannot. Unless I missed this.

However even if you can then you need to clearly identify the advantages of doing so.
 
My understanding is you cannot set up a PRSA while being a member of an OP scheme. If you had a PRSA pre the OP then that’s o.k

I declare my hand in that I do work for a competitor. However I would be far more concerned by their performance rather then their annual management fee. You will get independent verification on this in the IT this week when the Mercer survey is published for the end of Nov.
 
Hi muesli,

In case you got the BIAM charges above from the thread "AVC Fund Selection (BIAM)", please note that those are the charges for my company pension scheme (DB & AVC). I expect the BIAM charges can vary from scheme to scheme.

My understanding (as yours and Taximan) is that you cannot set up a PRSA under present legislation, so AVC may be your only option for adding to your pension. (But see other threads about buying extra years service, etc). If you decide to go with AVC's, you should get detailed info about charges from your company pension scheme. I guess you could use "our" scheme as a benchmark. I would be interested to see what other company pension funds are being charged to manage AVCs funds.
 
The fees set-out above are about as good as you will get from BIAM unless the fund is up around the €50m+ mark.

An individual with a fund of €10k would be more likely to pay 1% to 1.25% to BIAM, still a lot less than to Quinn Life but obviously dearer than if they were in a large company arrangment.
 
In relation to setting up an AVC while being a member of an Occupation Pension Scheme. - My understanding is that you can have PRSA AVC- kind of like a free standing plan. Can anyone confirm whether this is not the case?
 
That was my understanding. I'm not sure that there is any sort of blanket ban on an occupational pension scheme member also having a PRSA as suggested by some posters above. Of course the normal age related tax/PRSI relief limits apply.
 
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