Cut your pension fees and help save an abandoned child
Gerard Sheehy, in Cahir, Co Tipperary, has set up an "execution only" service on PRSAs (personal retirement savings accounts) through www.prsas.ie. This service is aimed at those who have done enough research on their own to make an informed decision on retirement planning.
The only charge that is applied to the PRSA is a 1pc annual management charge. The 5pc charge on each contribution has been eliminated.
Consumers are also given the option of making a donation towards helping abandoned children in orphanages in China, using the money saved on the fees that are normally charged by advisers to transact this business. These fees typically vary between ?150 and ?300.
Mr Sheehy said PRSA commission should not be a barrier to informed investors who are putting retirement plans in place. It is also possible to make a donation on the website without purchasing a product. Mr Sheehy said money is donated securely via PayPal and transmitted through Amity/Altrusa Foundation (www.altrusa.ws), a non-profit organisation that raises funds for the orphans.
