Please specify your preferred option on the Information Pack page.
The following products are also available with the 1% Annual Management Charge (no contribution charge) through this site, and are underwritten by Zurich Life.
External Funds have a higher management charge. Protected Funds are only available on Single Premium business and also carry a higher management charge.
Also called a Retirement Annuity Contract (RAC), this is a type defined contribution pension the value of which, at retirement, depends on the contributions made and the return achieved.
You are eligible to take out an RAC if you have "Relevant Earnings " from a non-pensionable employment or a self-employed trade or profession.
Individuals who do not have "relevant earnings" cannot take out an RAC, but may take out a PRSA.
This is a defined contribution plan, where contributions from yourself (employee) and your company (employer) are invested so as to provide you with a fund at retirement.
Your pension will depend on the contributions made, the returns achieved, your salary, the length of service with the company, and the cost of the "pension" at retirement.
These products allow you to reinvest your pension fund and take out money when it is needed. Income is not guaranteed but they may be suitable for tax and estate planning.
In order to qualify for an Approved Retirement Fund you must have a guaranteed annual income of €18,000. If you do not have this income, you must invest €119,800 of your fund in an Approved Minimum Retirement Fund. Once this is done, you can invest the remainder of your fund in an ARF.
While the 1% management charge cannot increase on a PRSA, Zurich Life reserves the right to change the 1% charge on Personal Pensions, Executive Pensions, AMRF and ARF contracts.
This is consistent with all product providers. Should this situation arise, you would be informed of any change in writing by them.
Online access to your account is provided on request, where you can view the full details of your pension product.
There are no initial charges on your contribution.
The only charge that will apply to the product will be the annual management charge as expressed as a percentage of the funds under management*.
* Additional charges will apply if more than four fund switches are made in a policy year. A Pension Board Fee (€9.50 per annum in 2009) applies to Executive Pension Plans.
You can change the profile of your investment by making a fund switch. There are four free switches available in any policy year