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Am I paying to much to Zurich for my PRSA?

  • 18-04-2021 10:09am
    #1
    Registered Users Posts: 770 ✭✭✭ Rock Paper Scissors


    Hey guys.


    I took out a Zurich PRSA via an execution-only broker a few years back.

    When I took it out I selected the Default Annuity Investment Strategy.

    For context I am 40 years old.

    I was just looking in my zurich account and my PRSA is spit as follows:

    ** Performance fund: 33.17%
    ** Dynamic fund: 66.83%

    If my understanding is correct, I am paying 1% AMC for each of these funds.

    When I look at the performance charts for both of these funds over the last 5 years, ther performance is very similar (Dynamic performed slightly better)

    I was thinking of switching to 100% Dynamic fund to save on the AMC (would be reduced from 2% to 1% I think as I would only be in 1 fund?)

    Would this be a bad idea?

    On a side note: AskPaul and his team recommend the Dynamic fund from Zurich.

    I have attached screenshots here to show you how my PRSA is split

    https://ibb.co/1stjcJc

    https://ibb.co/rshLJm1

    https://ibb.co/5YRj7yG

    Opinions/feedback very welcome

    Thank you guys


Comments

  • Registered Users Posts: 129 ✭✭ marty whelan


    Surely the fees will stay the same? 1% of x plus 1% of y equals 1% of x+y. What am I missing?


  • Registered Users Posts: 5,096 ✭✭✭ Allinall


    Hey guys.


    I took out a Zurich PRSA via an execution-only broker a few years back.

    When I took it out I selected the Default Annuity Investment Strategy.

    For context I am 40 years old.

    I was just looking in my zurich account and my PRSA is spit as follows:

    ** Performance fund: 33.17%
    ** Dynamic fund: 66.83%

    If my understanding is correct, I am paying 1% AMC for each of these funds.

    When I look at the performance charts for both of these funds over the last 5 years, ther performance is very similar (Dynamic performed slightly better)

    I was thinking of switching to 100% Dynamic fund to save on the AMC (would be reduced from 2% to 1% I think as I would only be in 1 fund?)

    Would this be a bad idea?

    On a side note: AskPaul and his team recommend the Dynamic fund from Zurich.

    I have attached screenshots here to show you how my PRSA is split

    https://ibb.co/1stjcJc

    https://ibb.co/rshLJm1

    https://ibb.co/5YRj7yG

    Opinions/feedback very welcome

    Thank you guys

    You will pay the same.

    You are currently paying 1% on the total value of your fund.

    This won’t change.


  • Registered Users Posts: 770 ✭✭✭ Rock Paper Scissors


    perfect, thank you guys


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