Getting Info. from Irish Life

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pjq

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I'm used looking up investment info with Eagle Star , for example ;[broken link removed]
and if you click on a fund you can get a pdf fact sheet .
My brother asked me to check on his Irish Life Pension .... what a nightmare ... fiddley arrows and tiny boxes [broken link removed] ,crappy graphs and glossy brochures .... and 1 hr later I am no wiser !
Can someone show me a link that will give me , fund price , performance % and a fact sheet ( asset clases and currency %) , is this typical Ir Life , hate to give you the straight numbers ?
pjq

PS the reason I'm making this observation is that I had the same vagueness when we phoned them , the letter ( 1st letter since 2004) does not match phone info at all , couldn't clarify cost to transfer to another fund . In addition , when my parents Irish Life Pension matured a few yrs ago they moved to Eagle Star because they could never get clear answers , especially about fees . In contrast Eagle star wrote them a 3 page letter to explain how 0.5% of the annual fee is deducted from the units , now their excel sheet adds up.
 
Dont mean to hijack this thread but I have a related Irish Life question. I am making AVC payments in addition to my company DB pension and I was told the allocation rate is 103% and the bid offer spread is 5%. Can anybody explain what this means? I realise you may need alot more information from me but a general explanation would be a start if possible please.
 
BroadbandKen said:
I was told the allocation rate is 103% and the bid offer spread is 5%. Can anybody explain what this means?
Click to expand...
For each €1 that you contribute €1 x 0.95 x 1.03 = €0.9785 is actually invested.

I don't really understand DB as opposed to DC pension schemes so I'm not sure if the charges make as much difference to the former as the latter?
 
ClubMan said:
For each €1 that you contribute €1 x 0.95 x 1.03 = €0.9785 is actually invested.

I don't really understand DB as opposed to DC pension schemes so I'm not sure if the charges make as much difference to the former as the latter?
Click to expand...


-Thanks ClubMan-again on what little info. I have supplied is this a reasonable charge?
 
In terms of a per contribution charge it probably isn't the worst but as I say I don't really understand the implications of such charges in the context of DB schemes. Personally I try to aim for an ideal of 100% of each contribution invested and an annual management fee of 1% or less if possible but that is not always possible especially with occupational schemes when the quid pro quo for employer contributions can often be higher charges than might be possible elsewhere (at least in my experience). What other charges apply - e.g. annual management charges (if applicable to DB schemes?)?
 
Contract charge which is annual is paid by my Company.
 
In theory (not sure about practice) shouldn't DB charges be largely irrelevant to the individual employee since the benefits accruing should be determined by criteria such as income, number of years service etc.?
 
Yes Club - but even in a DB Plan the AVC is usually on a DC basis - and that is what the OP has said...the OP is in a DB Plan (main plan) but also contributes to a "top-up" AVC Plan which is on DC basis.
 
To get back to the OP, if the IL website is of no use, the Irish Times on a Friday has a fairly comprehensive list of fund prices. These prices (if on a bid basis) should incorporate the annual management fee, which is refelected daily in the unit price. Of course you will need to know the name of the funds you own.

Rather than trying to get info from Irish Life over the phone, you would be better off requesting a written statement.
 
Re Op pen info query....your brother may have or can ask for a pin no to access his policy value/details directly by phone.I use this service regularly and its open 24/7 and afaik its updated daily.
 
My original post was partly a whine about Ir Life and partly wondering if others had the same experience ie. Eagle Star are much more forthcoming with info. and explanations than Ir Life.
After 7 weeks , I'm inclined to put it down to unfortunate experiences when I called .
pjq
ps I'm still maintaining that their site (fund price) is fiddley at best.
 
Irish Life provides a better than average service to corporate clients.

It provides a worse than average service to retail clients.

I agree with you - Irish Life is not as strong as Eagle Star on the retail side of its business, it is (however) probably better than ES at the corporate end.
 
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