Self-directed pension advice

Kandinksy

Registered User
Messages
1
Hello all

I would greatly appreciate any insight you can give me on the following:

I am a self-employed writer with scalable income. I am looking to set up a minimalist investment pension using a low-cost ETF index approach, probably with a world equity tracker and bonds. Nothing fancy. Realistically, I have 25 years left before retirement (in early 40s now), and am willing to go for long-term performance and minimalist fees in an attempt to make up for lost time.

Doing this in Ireland seems to be more tricky than expected. Research tells me that the most cost efficient way to do this is to set up a self-directed PRSA with ITC. But I have read on this board that one needs to have a €20,000 fund to begin with and €1,000 minimum monthly payments. Is there any other way to do this with a more modest starter fund and monthly contributions?

I could just set up an investment account on DeGiro and approach this outside an Irish pension scheme but then there would be the issue of the eight-year tax on accumulating funds, exit tax and no doubt other details I am missing. Any advice greatly appreciated.
 
Standard Life offer Vanguard index-tracking funds via their pension products. New Ireland offer State Street index-trackers. Aviva and Irish Life also have index-tracking funds available through their pension products. These are not self-directed arrangements - they are off-the-shelf pension products that have index-tracking funds available as options. This can work out cheaper than self-directed when you're at the stage of building up a fund. Charges will vary as every broker and agent has flexibility on charges.

Regards,

Liam
www.ferga.com
 
Standard Life offer Vanguard index-tracking funds via their pension products. New Ireland offer State Street index-trackers. Aviva and Irish Life also have index-tracking funds available through their pension products. These are not self-directed arrangements - they are off-the-shelf pension products that have index-tracking funds available as options. This can work out cheaper than self-directed when you're at the stage of building up a fund. Charges will vary as every broker and agent has flexibility on charges.

Regards,

Liam
Hi Liam,
How does the average person actually access these charges? I have a PRSA with Irish Life I need to move and I want the best deal. Who is that with is it DAVY or Standard Life, I hear they have 0.9 charge and Vanguard Global Fund at 0.02 on top?

Next, a personal pension is better than a PRSA right, and how do I know which companies give me the cheapest rate and 100% allocation to just invest my whole pension in a basic all world equities tracker?
 
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