Quinn life pensions

O

onway

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Has anyone out there got any experience of Quinn Life pension products??Or any advice on same?
 
Very quick summary on Quinn Life pensions...

Their charges are very competitive, so more of your money actually goes into the pension fund than with most of their competitors, where bigger percentages of each of your contributions gets siphoned off to pay commissions, company fees etc.

They don't actively manage their pension funds, they follow and attempt to track stock indices, such as the ISEQ. There are lots of debates about whether or not it's a good thing to have a fund manager actively managing your investments. Those in favour of the Quinn Life passive method would say that it's impossible to pick a fund manager in advance that will outperform a stock index. Those in favour of active management will say that while this is true, in practice some fund managers will outperform any given index, and by picking an actively managed fund, you're opting to go with (a) a human being or team who will actively try to beat the index rather than passively trying simply to keep up with it and (b) a betting chance of outperforming the index (with the corresponding betting chance of underperforming it).

There's no right answer to that debate - it's what suits your style.
 
In case my wording above is unclear, I'm not suggesting that it's possible to pick an active fund manager who will outperform any index or average measure in advance. It's not. But by choosing an active fund, you're giving yourself the possibility that your choice will do so. You're also leaving yourself open to the possibility that your chosen fund manager will underperform whatever measure you're using as a reference.

It may be possible to choose an active fund manager whose proven track record and skills increase their statistical likelihood of outperforming an index over underperforming it, but even that's arguable.
 
Their charges are very competitive

But you may be able to do even better - e.g. a PRSA with a 1% annual management fee and no charge on contributions (as opposed to the maximum standard PRSA charges of 1%/5%) for a once off arrangement fee to an intermediary may work out better value than QL 1%-1.2% annual management fees (reducing to 0.5%-0.7% after 15 years) and €3.81 on each contribution. Some PRSAs may also offer a wider range of funds. See some of the other topics in this forum (e.g. ) for more on PRSAs with competitive charges.
 
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