Increases announced:
PRSA:
Executive Pensions/Master Trusts
No change to 0.9% annual charge but minimum annual fee €1,000 and a change to how this will be calculated.
They are to start checking balances monthly and if the charge for that month is less than €83.33 (€1000/12) then that minimum will be charged.
The charges are still applied semi-annually.
Effectively for funds over €111,111 there will be no change(.9% of this amount will be €1000)
PRSA:
Fund value | Current Charge | New Charge |
€0-€49,999 | 0.75% | 2% |
€50,000+ | 0.75% | 1% |
Executive Pensions/Master Trusts
No change to 0.9% annual charge but minimum annual fee €1,000 and a change to how this will be calculated.
They are to start checking balances monthly and if the charge for that month is less than €83.33 (€1000/12) then that minimum will be charged.
The charges are still applied semi-annually.
Effectively for funds over €111,111 there will be no change(.9% of this amount will be €1000)
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