Company changing pension provider

C

colin79ie

Registered User
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Our company pension prsa is being changed from Zurich to Aviva. I cannot see any reason other that slightly lower fees. The company pays 5% salary and we pay up to 10%.

Looking online, it's not easy to find any data to make a comparison, other than the headline making awards that Zurich seen to get. Can anyone offer a comparison or is there anything to watch out for?

It was all done without communication to staff and we were just advised that it was happening.
 
The trustees are under no obligation to inform you why. You should ask them as you won't find anything online. If you are in a big organisation, the rates and deals won't be readily available as a lot of them are bespoke.


Steven
www.bluewaterfp.ie
 
I'm reading this as changing from one PRSA provider to another, so there are no trustees.

If this is the case then the company already has a Letter of Appointment (salary deduction facility) with Zurich Life. It will now set up a Letter of Appointment with Aviva Life & Pensions.

While it's not unusual for a company to have more than one PRSA provider, I'm not sure what the advisor driven reason for the total change (switch existing Zurich PRSA funds to Aviva) might be.

I doubt that the company will revoke the facility to do salary deduction for Zurich and that you will have the choice of the two PRSA providers.

I'm sure the advisor to the PRSA scheme could offer the '...slightly lower fees..' of the Zurich product also.

Gerard

www.prsa.ie
 
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