Would I do this through my bank?Why don't you consider an execution-only style PRSA if you are happy to choose your own investment manager and funds.
You can set-up such funds for a fixed set-up fee, they would carry a 1% investment manager charge and no other charges.
I would prefer not to manage my own fund. I just want to buy an index. The FTSE-100 or whatever.If you own your own company, would a small-self administered scheme be of interest to you, thereby you can control your own investments right down to investing in the property or business across the road!
To me it sounds crazily expensive. The bank doesn't charge me 5% for deposits. I don't get it. I could understand a fixed fee but not a %.5% of your contributions may or may not be expensive - all depends on the size of your contributions.
Liam, what is the difference between a PRSA, an 'executive pension' and an 'occupational scheme'? Say my contributions are 20K PA, inflating for 25 years. Why would I pick one rather than the other?As South says, a lot depends on the size of your proposed contribution. You could set up an Occupational Pension Scheme for a once-off fee - the only ongoing charges would be a flat €4.25 per month policy fee and 0.75% of the fund per annum.
Would I do this through my bank?
To me it sounds crazily expensive. The bank doesn't charge me 5% for deposits. I don't get it. I could understand a fixed fee but not a %.
Liam, what is the difference between a PRSA, an 'executive pension' and an 'occupational scheme'? Say my contributions are 20K PA, inflating for 25 years. Why would I pick one rather than the other?
Say my contributions are 20K PA, inflating for 25 years. Why would I pick one rather than the other?
I would prefer not to manage my own fund. I just want to buy an index. The FTSE-100 or whatever.
Irish Life have a few, but I'm not sure if they are available for Pension porducts? Click on the link and scroll down to the Indexed Funds Section, there are links from here to the various fund fact sheets.
The Consensus Fund is based around an Active Investment Manager's Asset Allocation strategy in a Pension Managed Fund, it is most certainly not an equity index tracker.
There is absolutely nothing in my post above that suggests using anything other than an index strategy.
I just want to buy an index.
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