Rabodirect enters pensions market

Hi Manto

I spoke to Rabo this morning about they're PRSA offering. Essentially they are operating as a broker for Zurich and so you have access to Zurichs Matrix suite of funds.
The contribution charges differ depending on level of contribution but I am waiting on a reponse in relation to Maintenance Charges and fund switching costs.
On the phone they confirmed that you will be able to get full online access to your account, including the ability to perform transactions. I have requested e-mail confirmation on this however, as a PRSA account set up directly with Zurich does not allow you to perform transactions online.

All in all, I have been very happy with Rabos others services and I currently have a Zurich pension account. Rabos offereing seems competitve (if contributing 1K and above) and if they can truly offer online access which allows you to perform transactions then I will strongly consider opening a PRSA account with them.
 
Wow, that sounds great.
Welcome to AAM charlieb, what an informative first post, you could almost work for Rabo!
 
Norfolk

No, not working for Rabo, just impressed with their investment options and user friendly website.

Biggest gripe with pension providers here (besides charges) is the fact that you still need to call a broker for something as simple as making a transaction or fund switch. Even those providers that do give you online access appear to want to make it difficult to even track your account or fund performance - terrible platfoms!!

Lets see what Rabo provide !
 
Folks.
Just got an e-mail response from Rabo.

An annual maintanenace charge of 1% still applies (payable to the fund manager)

Upto 4 fund switches per year are free, after which Zurich charge you 20/switch.

Sadly, you cannot make online account transactions.
 
From what I can see on the Rabo site, Rabo are acting as an intermediary for Zurich - I'm not sure whether they're acting as a tied agent or something else.

The online access, 1% annual fund charge, 4 free switches etc., are standard for anyone starting a Zurich PRSA, regardless of the intermediary. Their charge per contribution is lower than some intermediaries and higher than others.

Biggest gripe with pension providers here (besides charges) is the fact that you still need to call a broker for something as simple as making a transaction or fund switch. Even those providers that do give you online access appear to want to make it difficult to even track your account or fund performance - terrible platfoms!!
Click to expand...

You don't need to call a broker to make a transaction or carry out a fund switch on a PRSA. You can do this directly with the PRSA provider, e.g. Zurich.

Rabo's online PRSA access is provided by Zurich and is the same as any other Zurich customer's.
 
You must log in or register to reply here.
Back
Top