Pensions – Zurich Low Cost PRSA

By setting up your Zurich PRSA on a reduced commission basis through LABrokers you save on each and every contribution you make to the plan for the life of the plan.

The product LABrokers offer you is exactly the same as you would get through an Zurich channel elsewhere except we have decided to distribute Zurich’s PRSA on a much lower profit margin. The contract is between you and Zurich. We do not handle client funds and we do not charge any fees.

This philosophy works to your immediate advantage now and in the years to come.

Charges:

The only charge is the 1%* pa management charge. There is NO 5% charge.

*Out of this 1% annual management charge LABrokers are paid a commission of 0.25% by Zurich.

Funds:

A “Default Investment Strategy” that targets growth in the early years but changes to a lower risk portfolio as retirement approaches.

A more individualised profile can be designed through investing in a selection of the funds available (PDF – 93k). The funds are listed as ‘Standard PRSA’ (in blue)

Options:

It is possible to stop paying into the PRSA fund at any time until you are ready to contribute again
You can make a lump sum contribution to your PRSA fund at any stage.
There is an option to automatically increase contributions each year so that inflation doesn’t erode the value of these over time.
You can move your pension contributions between the available range of investment funds at any time.

Contributions:

Zurich PRSA Pension 100% Allocation No Fees.  Minimum contribution: €10 for any payment by electronic transfer (including direct debit), €50 for payment received by any other means.
If you are in a company scheme, you can elect to make further tax-deductible contributions through an Additional Voluntary Contribution (AVC) PRSA.
The contract is between you and Zurich and Zurich administer the product. On commencement of your PRSA Zurich will post all policy documentation to you. There is NO charge to the client for this execution only service. Zurich may pay LABrokers a fee from their profits based on the total volume and persistency of all our PRSA business placed with them and that’s how we earn on the transaction.

LABrokers cannot offer you any financial advice on this product but there is nothing stopping you doing your research elsewhere and then placing the business with LABrokers on discounted terms. Having said that you will find most of what you need in our information pack.