Share dealing within a non-standard PRSA

PH4T

I currently have a standard PRSA but considering changing to a non-standard PRSA so I can buy and sell my own stocks.

I see the Standard Life Synergy PRSA allows this.

Who else in the Irish market provides this option?

Kennie1

PH4T wrote: »

I currently have a standard PRSA but considering changing to a non-standard PRSA so I can buy and sell my own stocks.

I see the Standard Life Synergy PRSA allows this.

Who else in the Irish market provides this option?

Zurich and Irish Life offer this through a Personal Pension as far as i know these are the only other providers, but be carefull as trading costs can vary between provider depending whether you go execution only basis or advice basis, go see a good broker to compare overall costs i.e. policy fee, allocation rates, AFC and min transaction fees etc etc...

PH4T

Kennie1 wrote: »

Zurich and Irish Life offer this through a Personal Pension as far as i know these are the only other providers, but be carefull as trading costs can vary between provider depending whether you go execution only basis or advice basis, go see a good broker to compare overall costs i.e. policy fee, allocation rates, AFC and min transaction fees etc etc...

Thanks. I'm currently with Zurich so I called them.

They said they have a self-directed non standard PRSA within which I can also trade shares etc.

Its starts to get complicated now. They said I currently get 100% allocation but if I change to a non standard PRSA I wouldn't get 100% allocation, I'd get more like 98%. Do they just pocked the 2%?

They also said Bloxham would be the broker for stock purchases. I imagine Bloxham are expensive.

Standard Life use Stocktrade who seem to be quite cheap (0.75% per trade).

Has the Financial Regulator or anyone done any comparisons on this?

Kennie1

PH4T wrote: »

Its starts to get complicated now. They said I currently get 100% allocation but if I change to a non standard PRSA I wouldn't get 100% allocation, I'd get more like 98%. Do they just pocked the 2%?

They also said Bloxham would be the broker for stock purchases. I imagine Bloxham are expensive.

Standard Life use Stocktrade who seem to be quite cheap (0.75% per trade).

Has the Financial Regulator or anyone done any comparisons on this?

98% allocation seems fair as there is a lot of admin in self directed funds for the company. "stocktrade are quite cheep" you have to realise that you get what you pay for. Which is the best value? depends on what your requirements are! You are soooo right it is very complicated area and that is why i recommended that you go see a broker. There are a lot of hidden charges and a lot of things that you would need to consider before you make the decision to go down this road, my own opnion is that the vast majority of people should use the advisory service as this provides detailed info on the companies you may want to invest in that is not available in the public domain. You would also need to consider what proportion of your pension fund that you are going to use for investing in these assets. Be aware that you need at least 50,000 K to start a self directed pension and unless you have other assets available for your retirement, you should not invest more than 25% for direct share dealing.
The CBI/FR dose not compare these type of pensions as there is too many factors to consider so it would be impossible to provide a fair comparison

PH4T

Kennie1 wrote: »

You are soooo right it is very complicated area and that is why i recommended that you go see a broker.

Thanks. Are you allowed to suggest some financial advisors on here that would be suitable?