Sure there are approx 20 in the scheme and the total size is >2Million. Could you explain why the number of members is important? Does the number of members impact the fees?@AJAM You need to say how many members are in the the existing scheme.
Thanks Steven,
Yes I'll definitely ask Invesco how we can move to 100% allocation.
But are there other providers the business could approach instead of Invesco?
For instance could we approach Zurich (or someone like that) directly?
Also I'd be interested to know what other people are paying in fees on their DC schemes.
Economies of scale. As with a lot of things in life, the bigger you are, the more you can influence price.Sure there are approx 20 in the scheme and the total size is >2Million. Could you explain why the number of members is important? Does the number of members impact the fees?
Would that be a one off fee or an ongoing fee?If your employer is willing to pay a fee instead of the members paying a commission, Invesco shouldn't have any issue in changing the allocation rate to 100%. Just tell them that is what you want to do. You can also tell them you are not happy with the performance of Irish Life and want to move. Remember, Invesco work for the scheme and if you are not happy, you can tell them to move or you can find someone else to look after the scheme.
Thanks Fintan, do you remember if you were directly with Irish Life or working through someone like Invesco?I was a member of an Irish life scheme with 20 employees, 100% allocation but fund size was about €4m.
Ongoing.Would that be a one off fee or an ongoing fee?
Lucky them, thats a great scheme.the site staff are in the CWPS scheme run by the CIF.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?