CSO - Analysis of Personal Retirement Savings Accounts (PRSAs) 2024

What might explain the large rise in the value of assets in non-standard PRSAs from 2023 to 2024?
 
It would be interesting to see what sort of charges people are paying (obviously a standard PRSA is capped at 5% on contributions and 1% AMC but hopefully not too many people are paying that?) and what sort of asset allocations are used.
 
I thought that the standard PRSA AMC was capped at 1% but could be lower?
Ot is it simply that all available standard PRSAs charge the maximum 1% in practice?
 
Protocol said:
What might explain the large rise in the value of assets in non-standard PRSAs from 2023 to 2024?
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Two of the good PRSA providers - Royal London and Standard Life - only offer Non-Standard PRSAs. Given that Standard PRSAs have statutory caps on charges and Non-Standard PRSAs do not, it's ironic that some of the lowest-charge products are Non-Standard PRSAs.
 
Fortune said:
The "loophole" allowing unlimited employer contributions and the effective closure of EPPs. Non Standard gives a better fund choice than Standard.
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Growth in equity markets helped a lot in 2024 too but not by 76% or €5bn.

I heard a third-hand report of a well-known CEO adding a eight-figure sum to their pension fund in 2024.

Looks like this was an absolutely massive boon to the mega-rich. To my knowledge not a single left-wing TD noticed this as it went through the Oireachtas in late 2022!
 
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