Zurich Low Cost PRSA
By setting up your Zurich Standard 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.
As we do not provide advice we can afford to reduce the commission we take. As a result, Zurich will not charge you 5% of the contribution, this means 100% of each and every contribution you pay into your PRSA each month for the life of the policy, goes into your pension fund.
If you pay over €500 per month the annual management charge is only 0.75%. If you pay less than €500 a month the annual management charge is 1%. There are no other charges.
This philosophy works to your immediate advantage now and in the years to come.
Charges:
Monthly contribution less than €500
| Actual Allocation | 100% |
| Annual management charge | 1% |
| Bid offer spread | 0% |
Monthly contribution €500 or more.
| Actual Allocation | 100% |
| Annual management charge | 0.75% |
| Bid offer spread | 0% |
To qualify for this 0.75% rate:
- Max age starting PRSA is 63 next birthday
- The minimum term of your PRSA must be 5 years
Lump sum contributions:
- If you invest a lump sum of €100,000 + the annual management charge is 0.75%. For less than this amount the annual management charge is 1%.
- Allocation rate 100%.
What allocation rate means:
- For example, when you contribute €500 to your pension fund, if the allocation rate is 100%, the fund value is immediately €500
- Funds:
A “Default Investment Strategy” that targets growth in the early years but changes to a lower risk portfolio as retirement approaches.
A more individualized 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:
- Employers are able to pay unlimited BIK-free contributions to a PRSA for an employee or director. 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.