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Quinn Life/Freeway

  • 05-01-2010 8:30pm
    #1
    blue1980
    Closed Accounts Posts: 38 ✭


    Hello,

    I am interested in starting a pension. I have researched a few options and like the look Quinn life freeway pension.

    I know I should contact them with my questions but was hoping for some advice on boards first.

    They mention you can switch between all their funds up to six times a year for free. Does this mean that if I pick one of their high risk funds and another stock market meltdown happens, I can simply switch to the low risk (cash) fund overnight and stay there to weather out the storm without losing whatever gains I have already made at that stage??

    Their charges seem reasonable 1 - 1.5%. Are they?

    However, my biggest reservation about dealing with Quinn is their integrity.
    I had a car policy with them a few years ago and although I had no claim to make I found them very difficult to deal with.

    There are many horror stories from their insurance branch. Not paying out and disputing claims etc.....

    I know they are two different branches, but it is the same company, same mentality.

    I understand that the Quinn group has taken a big hiding during this recession. What if they went bust. Would they clear out my pension account and run to the hills???

    Any advice or recommendations would be greatly appreciated.

    blue.


Comments

  • #2
    [Deleted User]
    Posts: 281 ✭✭ [Deleted User]


    blue1980 wrote: »
    I am interested in starting a pension.
    Is it a Personal Pension (RAC) or an Company Directors Executive Pension ?
    They mention you can switch between all their funds up to six times a year for free. Does this mean that if I pick one of their high risk funds and another stock market meltdown happens, I can simply switch to the low risk (cash) fund overnight and stay there to weather out the storm without losing whatever gains I have already made at that stage??
    Yes
    Their charges seem reasonable 1 - 1.5%. Are they?
    Reasonable, relative to the majority of the market? Yes. There are other 'execution only' services available that you should probably also consider, if you have not done so already.


  • #3
    blue1980
    Closed Accounts Posts: 38 ✭blue1980


    Thank you for the reply.

    I'm self employed and actually will be a non resident very soon. will my non residency status make a difference?


  • #4
    broker2008
    Registered Users, Registered Users 2 Posts: 750 ✭✭✭broker2008


    If you are going away, you would be better off doing a single premium / once off product be it personal pension or a PRSA.

    If you switch a fund the loss will carry over to the new fund ie if stock market goes down by 10% today you will find that the price you switch at will take reflection of the decrease otherwise we'd all be playing the markets!;)


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