PRSAs
Caius, why did you revert to type with that last comment? Otherwise (except for that "paltry" swipe) you made reasonably reasonable points in a reasonably reasonable tone and so I will honour you with a response. Say "thank you".
Personal Pensions redundant yes. Executive Pensions no as these can have superior tax breaks etc. to PRSAs.
I welcome the Standard Life approach. A bit ironic that it is the Standard who have put the human face on Non standard. :lol
Here again the Pensions Board are in error though. There should never have been any restrictions on the funds within Standard PRSAs other than for the DIS. It gave the industry the perfect excuse to promote higher charge Non standard PRSAs.
Not having a Non standard PRSA, I admit to not being entirely aware of whether these can piggy back off a Standard PRSA deduction facility. If not then the likes of Eagle Star are caught by another dilemma. They openly claim that their Advice Non standard PRSA is superior to their Standard version so are they by their own lights short changing their designated employers? Indeed do they give any advice to employees on Standard PRSAs? We do and we don't charge any extra for it.
You know that no PRSAs are state guaranteed. Why are you asking this question?
It has a choice of six funds, quite enough for anybody IMHO and just as much as on our Executive Pension plan. A choice of umpteen funds is just another example of the self justifying pompous palaver we see these days.
Valuations on line? Yep.
Without 5% contribution charge? No. BTW how does the Eagle Star rep justify selling a 5% charge Standard PRSA without advice when the same product and service is available on-line without the charge?
No enhanced allocations for higher contributions. This is in line with the majority of companies and those which do give enhanced allocations only do so in a very limited way.
DIS tailored to an ARF or an Annuity? You may or may not be aware that the whole issue of DIS strategy was and is a hot actuarial debate. The majority actuarial consensus is, as with Ark Life, against making this differentiation.
I told you before why an employer should consider an Ark Life Standard PRSA. We
believe in PRSAs. We especially believe in Standard PRSAs. David Went denounced most providers for "whinging" about PRSAs. Strong language, but if you were an employer would you want linking up with a "whinging" company?