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That's what I hoped when I engaged a broker! He's quite happy to provide advice on a nil-commission basis, but he says that New Ireland won't play ball.Using a broker may allow you to reduce the contribution charge.
Regular premium of ~€600 (max for my age bracket), transfer of ~€6000. I realise I'm not exactly premium business!Not sure how much you're contribution is or whether you are talking about single or regular premium.
Problem is they don't offer index tracker funds, or at least that's what they said when I asked them over the phone. As modest as my contributions are, I really don't want to have my pension fund at the mercy of fund managers trying to be smart.Hibernian offer a non standard PRSA with 100% allocation, 1% mngt and no bid/offer spread and a choice of 20+ funds from HIM, BOI and Irish Life.
True, and I'll get back to him. I told him that I was only interested in 0% contribution charge, and he said that it wasn't possible, but even if they offer 2% that would be (marginally) better than a 1.35% management fee (if my spreadsheet calcs are correct!)If you are not doing 1k per month, than 5% looks like the lowest rate they offer. I don't believe your advisor and get any better than this. I don't know if the pension providers would strike a special deal with you, but it can't hurt to ask your advisor.
I did look at the loyalty payments and they seem relatively insignificant and more of a marketing gimmick than offering real savings.I also note that irish life have some loyalte payments that may mitigate slightly against the high charge.
I like Quinn Life's products, and indeed have taken out a regular investment scheme with them (their Freeway product).Is a Personal Pension with Quinn Life an option?
Have you considered Eagle Star range of sector funds? I understand that La brokers were offering access to those funds on a Nil Commission basis i.e. saving of 5% (for €150 or thereabouts)
PM sent!Thomas
Do you want to set-up an index tracker with New Ireland on 0% contribution charge and 1% fund management charge?
If that is what you want, please let me know.
Thanks for the reply CapitalCCC. Looks like I'll have to look at going with irish life until a better product comes along.Sorry futisle but New Ireland were not able to set-up on that basis for me.
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