Pension start for sole trader - Recommendation

N

Nice Day

Guest
About to start a pension, 31, sole trader.
Any suggestions would be greatly appreciated..

Thinking of..
Eagle Star
Quinn Life
Irish Life

Any tips I should know.. Could afford approx 400pm

Thanks in advance
 
Can't really comment on any of the pension providers but be aware of:

Brokers or salespersons commissions
Entry charges
Transaction charges
Exit charges
Encashment penalties
Fund manager fees for actively managed funds
Bid / Offer spread
Tax treatment
Annual Management fee (% of the total amount of the fund)
Monthly fee (% of monthly contributions)

​
 
Thanks for that..

I will be going direct as not to be influenced by a broker..
Looking out for all your points, who are considered the best performer with the lowest charges and most importantly, no hidden penalties/charges..

What are Quinn Lifes main investments?

Now that the property market is touch and go is it fair to say Irish Life would not a good option.. A broker I spoke to before told me that they were the biggest commercial property investors..

Again, any sole traders out there with information regarding this would be appreciated.. ;o)
 
Nice Day said:
I will be going direct as not to be influenced by a broker..
Click to expand...
In some cases you will get a better deal going via a (for example discount execution only) broker rather than going direct. There are lots of existing threads discussing pensions, recommendations etc.
 
Clubman's right - a discount broker can get you access to an Irish Life or Eagle Star pension product that by going directly to Irish Life or Eagle Star. There's a list of Discount Brokers in the Best Buys forum here on Askaboutmoney. If you decide on Quinn Life, you may as well approach them directly as they don't facilitate discounts via brokers, unlike the other two.

What are Quinn Lifes main investments?
Click to expand...

Quinn Life don't actively manage funds. They track share indices.

Now that the property market is touch and go is it fair to say Irish Life would not a good option.. A broker I spoke to before told me that they were the biggest commercial property investors..
Click to expand...

No it wouldn't be fair. Yes Irish Life are a big commercial property investor. But they're the biggest life assurance company by market share in Ireland. So they're big investors in lots of things. For example, their Consensus Fund, which is made up predominantly of equities, is valued at around €6.6 billion and only 5% of that is property.

If you don't want to invest in property, you can choose a fund that has no property content.
 
Thank you all.. I will look into a broker..
Much apprecaited!
 
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