Types of PRSA for public sector workers

P

POC

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The more I read about PRSAs and AVCs, the more confused I'm getting!
As a public sector worker, who is already making NSP payments - I'm trying to find out which products are suitable for me, without excessive charges.
Can I buy any PRSA? Or must I buy one called a PRSA AVC?
Cornmarket is expensive. LABrokers offer a PRSA AVC with Zurich, with a low AMC, but it doesn't have the option of indexed funds (which would be my preference).
Are there other discount brokers I should look into?
 
As a PS wishing to save into an AVC, yes the type of AVC you want is a PRSA-AVC.

I'm sure other discount brokers sell them.
 
OK thanks. Should be easier to make a decision if there are fewer choices!
 
just a further query, i wish to organise an avc for my wife who will be short circa 18 years of service out of 40, she is near 60 so has 5years to retirement, can she take out a prsa avc for 5 years max her contribution in order to attain potential 1.5 of salary when leaving, so say presently she will get a lump sum of 20k on retirement can she use the prsaavc as tax free to make up 1.5salary
 
Hi Stoves, has she looked at buying back some of the years she is short versus the AVC route?
 
Agree POC, was looking at the PRSA and non Cornmarket due to the high fees. Glad i now know to look at PRSA-AVC but I maay buy back years short instead.
 
stoves1 said:
just a further query, i wish to organise an avc for my wife who will be short circa 18 years of service out of 40, she is near 60 so has 5years to retirement, can she take out a prsa avc for 5 years max her contribution in order to attain potential 1.5 of salary when leaving, so say presently she will get a lump sum of 20k on retirement can she use the prsaavc as tax free to make up 1.5salary
Click to expand...

If Mrs Stoves is specifically looking to max out her tax free lump sum, I think the AVC route is preferable to buying notional service (if she can live with the fees/commissions). With notional service most of the contribution will count towards the increased annual pension - and some goes to the Spouse's (widows/widower's pension) element.

However, should Mrs Stoves have some previous service which was not pensioned at the time, she should enquire if she buy this back now - the cheapest option.
 
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