I'm 40, self-employed (sole trader), with no pension, but a lot of savings (6 figures). I rent at the moment, but may buy a house in the next few years.
I see the government plans to reduce tax relief on pension contributions to a maximum of 30% (see http://www.independent.ie/national-...evies-will-now-be-made-permanent-1910468.html ), so figure this is a good time to get that damned pension started, and a make a large lump sum contribution before I submit my tax return for Oct 31st.
Rabodirect / Zurich Star (Eagle Star funds) are offering a PRSA with commission on contributions at 0.5% (if you contribute 30,000+ initially, and 1000+ per month, which I can manage okay), and a 1% annual management fee - see [broken link removed]
I know there are some 0% commission "execution only" brokers out there, but 0.5% seems reasonable. Better than paying 5% to a broker anyway.
I know I should do tons of research to make the "right" decision, but if I don't get the research done (due to lack of time, laziness, etc.), surely it's better to get started on my pension with *something* which is reasonably right for me, rather than prevaricate even longer searching for that 100% perfect product.
Any advice / suggestions?
I see the government plans to reduce tax relief on pension contributions to a maximum of 30% (see http://www.independent.ie/national-...evies-will-now-be-made-permanent-1910468.html ), so figure this is a good time to get that damned pension started, and a make a large lump sum contribution before I submit my tax return for Oct 31st.
Rabodirect / Zurich Star (Eagle Star funds) are offering a PRSA with commission on contributions at 0.5% (if you contribute 30,000+ initially, and 1000+ per month, which I can manage okay), and a 1% annual management fee - see [broken link removed]
I know there are some 0% commission "execution only" brokers out there, but 0.5% seems reasonable. Better than paying 5% to a broker anyway.
I know I should do tons of research to make the "right" decision, but if I don't get the research done (due to lack of time, laziness, etc.), surely it's better to get started on my pension with *something* which is reasonably right for me, rather than prevaricate even longer searching for that 100% perfect product.
Any advice / suggestions?