Pension charges in Ireland vary and can affect retirement savings over time. One of the main charges is the Annual Management Charge (AMC), which is charged annually on the value of your pension fund.
Eliminating intermediary commission and contribution charges can reduce the overall cost of a PRSA, which can increase the proportion of contributions invested over time.
One Quote Financial Brokers offers access to a Royal London Ireland Non-Standard Execution-Only PRSA with lower-cost fund options.
Product Charges (Annual Management Charge)
- 0.35% p.a. – For all Passive Fund choices.
- 0.40% p.a. – For all Active Fund choices.
The AMCs stated above are the contractual charges, which remain as stated.
Where you choose to apply:
- A Preliminary Disclosure Certificate will be supplied in your Application Pack.
- A personal illustration of projected values detailing the specific impact of the product charges, will be provided on receipt of your completed application details.
- A 30 day cooling-off period also applies.
Execution-Only PRSA Terms
An execution-only service means that under rules set by the Central Bank of Ireland, no recommendation or suitability assessment is provided.
- This execution-only service is not available for Public Sector AVC contributions, as these are not facilitated within this PRSA execution-only service model.
Contributions & Allocations Terms
The following terms apply to all Royal London Ireland execution-only PRSAs offered:
- €500 per month minimum monthly contribution applies, payable by direct debit.
- 100% investment allocation applies to all regular contributions and plan transfers.
- 100% investment allocation applies to all single premiums of €10,000 or more.
Understanding the Royal London Ireland – Contract Basis
This Royal London Ireland PRSA operates on a 0.40% p.a. maximum AMC contract basis, allowing access to both Active and Passive funds, over the lifetime of your PRSA.
Passive funds are charged at 0.35% p.a. AMC, while active funds are charged at 0.40% p.a. AMC.
Each fund is always charged its own rate, regardless of the overall portfolio mix.
Available Fund Choice
This Royal London Non-Standard PRSA provides access to a range of funds, including:
- Multi-Asset Funds (ranging from defensive to adventurous)
- Passive index funds (regional & asset-specific)
- Cash fund (actively managed)
You can choose to invest in one fund or multiple funds, as well as switch funds without charge.
View all their fund options in the Royal London Fund Centre.
| Fund Type | AMC |
|---|---|
| All Active Funds | 0.40% p.a. |
| All Passive Funds | 0.35% p.a. |
How Our Service Works
A one-off broker setup fee applies covering the establishment of your PRSA, whether Personal, Payroll Deducted, or self-employed Director PRSA.
An additional broker fee may only otherwise occur, where you choose to make a PRSA or PPP pension transfer to your new Royal London Ireland PRSA.
This structure is designed to operate without commission-based remuneration applying.
This PRSA operates like any other PRSA in terms of contribution flexibility and has:
- No policy fees
- No fund switching charges
- No early-exit charges
- No commission-based remuneration within the product
- No allocation charges (min 10K Single Premiums)
Why PRSA Charges Matter
Lower-cost PRSAs allow a greater proportion of your contributions to remain invested, enhancing the potential effect of compound growth over time, dependent on investment performance.
Illustrative comparison of execution-only charges
Figures are indicative and based on publicly available information which may vary over time. Many retail PRSAs in the Irish market may have annual charges in the region of 0.75% or higher, depending on provider and structure.
| PRSA Option | AMC |
|---|---|
| Typical PRSA | 0.75% |
| Active Funds | 0.40% |
| Passive Funds | 0.35% |
The above comparison is based on indicative market observations and publicly available information, which may vary depending on provider, product structure, and individual circumstances.
What Lower Charges May Mean for a PRSA
This is a hypothetical example for illustrative purposes only and is not based on the performance of any specific product.
Retirement savings grow through:
- Regular contributions
- Investment returns
- Compound growth over time
Illustrative Scenario (Age 35–65)
| Feature | Value |
|---|---|
| Start age | 35 |
| End age | 65 |
| Starting at | €500 per month |
| Indexation | 5% per year |
| Step-ups | +€200 at 40, 50, 60 |
| Lump sums | €3,000 at 45 and 55 |
| Net return | 6% per year |
| Compounding | Monthly |
| PRSA A | 0.75% AMC |
| PRSA B | 0.35% AMC |
Estimated Fund Value at 65
Higher fee (0.75%)
Monthly contribution: €500+, step-ups & lump sums
Fund at 65: €1,080,000
Lower fee (0.35%)
Monthly contribution: €500+, step-ups & lump sums
Fund at 65: €1,140,000
“Illustrative difference: approximately €60,000
Total PRSA Cost Transparency
Additional Investment Expenses (AIE) apply to all fund-based investments, including PRSAs, and should be considered alongside the AMC to provide additional information on costs.
These expenses tend to be minimal and even more so for passive fund choices.
Maximum additional investment expenses across all Royal London Fund PRSA options are outlined below and are added to the AMC at a level specific to your chosen funds.
The maximum applicable expenses are those below,:
- Royal London active funds max on any one fund AIE: 0.18%
- BlackRock passive funds max on any one fund AIE: 0.08%
- You can view fund-specific (AIE) by selecting your chosen fund’s individual fund Factsheet, within the Royal London Fund Centre.
Note
- Additional Investment Expenses (AIE) may vary over the lifetime of any PRSA contract, those stated above are the maximum applying in March 2026, and lower expense charges may apply dependent on your funds chosen.
Royal London ValueShare Bonus
- Added annually to your pension unit value (usually April)
- Once added, it compounds alongside your pension
- Past four years (including April 2026) added ~0.13% per year in bonus units
In recent years (including April 2026), discretionary additions have averaged approximately 0.13% per year; however, these are not guaranteed.
Our Broker Fees
One-Off PRSA Setup Fees (Professional Service Fees) for the setup and implementation of your PRSA. These are charged separately by invoice and are distinct from the Annual Management Charges (AMC) applied by the pension provider. There is no VAT added.
1. One-Off PRSA Setup Fees
- €1,500 – Personal regular, or single contribution PRSA.
- €2,250 – Payroll deducted PRSA setup (Employee or Employer/Employee)
- €3,500 – Limited Company funded PRSA (Owner Director)
2. PRSA & RAC Plan Transfers
If you choose to transfer existing PRSA or PPP into your new PRSA, a once-off implementation fee (per transfer) applies in addition to the standard setup fee.
- Transfer Fee: 2% of total fund value
- Minimum Fee (applies in all cases): €1,500
- Maximum Fee: €4,500
Where multiple plans are transferred at the same time, the 2% fee is calculated on the combined fund value (subject to the €4,500 cap).
An additional €250 administration fee per additional plan transfer applies to cover the increased processing required.
Transferring Your PRSA/PPP
As the owner of the plan with sole authority, you’ll need to contact your current provider directly to request the relevant Transfer Application Form, complete and return it to them. Royal London cannot initiate the transfer from your existing plan provider on your behalf.
They will, however, confirm directly that the new PRSA is set up to receive the transfer and provide the necessary bank to facilitate it.
To allow this you share your transferring plan details on your Royal London PRSA application form, supplied in your Application Pack.
Fund Choice & Investment Risk
Royal London Ireland provide access to tools to assist in understanding the risk ratings of their funds.
To get familiar with the fund choices on offer, you can visit the Royal London Ireland fund centre, where you can also click on the individual fund factsheets.
When you click on the fund centre and then on the factsheet PDF link of any of the funds listed you can view that funds risk rating.
To assist with fund selection, clients can opt to use the Royal London online suitability tool, which includes:
- A Risk profiler – assess tolerance for investment risk
- A Sustainability questionnaire – consider ESG factors
Clients may choose to complete both assessments, or only the risk profiler.
Access Royal London’s suitability tool
The use of this online tool is to help with the provision of very important information; it does not however constitute advice or a recommendation from us. All investment decisions remain the client’s responsibility and as such require your careful and appropriate consideration.
Controlling Your Fund Options
Investment Options
Royal London Ireland offers PRSA clients two investment portfolio options when completing their application:
A. Choose Your Own Funds (with optional rebalancing)
You can select one or more funds based on your risk appetite and investment goals, and adjust them over time as needed.
If you invest in multiple funds, performance differences may cause your asset allocation to drift.
You can choose automatic rebalancing (monthly, quarterly, half-yearly, or yearly) to keep your portfolio aligned with your original strategy and reduce manual intervention.
OR
B. Generate Your Portfolio – Flexible Lifestyle Strategy
This option allows you to choose your risk level, and your de-risking period (5, 10, or 15 years), as well as your target retirement portfolio. This option designed to progressively adjust risk exposure over time as you approach retirement by gradually moving from higher-risk funds into lower-risk funds, with the aim of reducing exposure to market volatility.
Further information on Royal London investment options is available on the Royal London Ireland website.
Post Policy Setup – Ongoing PRSA Services
Royal London Ireland Services
Once your PRSA is set up, you will be granted Royal London platform access, which will directly facilitate:
- fund switches
- changes to regular contributions
- the investment of additional single premium contributions
- six monthly benefit statements
One Quote Services
Where any additional post policy setup plan transfers are required, you will need to contact us directly. Our broker fee will apply in line with the agreed fee schedule at the time of application.
Typical Use Cases (Non-Advisory)
This information is provided to explain typical usage; it does not constitute advice or a recommendation for any individual.
- Investors solely contributing to their own pension arrangements
- Individuals who prefer to make their own investment decisions without advice
- Self-employed professionals having to fund their own pensions
- Business owners seeking low-cost fund access and PRSA flexibility
- Private sector AVC contributors seeking additional choices
This structure may not suit individuals who require personalised advice, are unfamiliar with investment risk, or prefer ongoing guidance.
When Financial Advice is Recommended
You should consider seeking financial advice if you are unsure about any aspect of this product.
Learn more about our advisory PRSA options.
You should ensure you understand the risks associated with investment markets before proceeding.
PRSA Application FAQ
Getting Started
Do I have to pay any additional broker fees post setup?
Only for transferring a pre-existing PRSA or RAC at this time, where the same transfer fees apply.
What does the Application Pack include?
Your Application Pack contains the following documents:
PRSA Application Form, PRSA Product Guide, Preliminary Disclosure Document, Funds Guide, Financial Advisory Waiver, and our Execution-only Terms of Business.
Do all PRSAs and fund-based investments carry additional charges beyond the stated AMC?
Yes—absolutely. The Annual Management Charge (AMC) is not the total cost on any investment product. Additional operational fund charges apply and should be reviewed carefully for transparency, including where passive fund options are selected. As with any PRSA or fund based investment product for that matter, contracted AMCs will never increase over the lifetime of your investment, but additional very small operational charges may vary slightly especially on actively managed funds.
Can I set my PRSA by way of a single contribution only?
Yes, except for payroll deducted arrangements and subject to the applicable PRSA setup fee.
Will I receive a Personal PRSA Illustration if I apply?
Yes. A Personal PRSA Illustration will be provided once your completed Application Form has been received and your personal details and contribution levels have been confirmed on the application. Once you confirm your personal fund choices and contribution level—including any initial lump sums or PRSA transfer – you will receive a Personal Illustration outlining your projected retirement fund values at your selected retirement age.
Application Submission
Do I return my application by post?
No. The entire process is completed digitally.
What must I return with my completed PRSA Application?
You must submit:
- Your completed Application Form
- A signed Financial Advisory Waiver
- Certified photo ID
- Proof of PPSN
Please send to: apply@onequote.ie
If I want an Employer-Sponsored PRSA, how are contributions collected through payroll?
The Application Form allows you to include both your own and your employer’s contact details, along with employer bank details to facilitate direct debit authorisation for contributions.
About Our Fees
How do I pay the broker setup fee?
An invoice will be issued to your email once your PRSA policy documents have been released.
When is the broker setup fee due?
The plan setup fee falls due for payment, once your PRSA goes live and you receive your policy documents.
Is VAT charged on the broker fee?
No, the provision of financial service products is exempt from VAT.
Is there a broker charge for future single premium contributions?
No broker fee applies for additional single premium contributions made post-setup. These are facilitated directly through Royal London.
Is there a broker charge for facilitating future plan transfers?
Yes. Where we facilitate a transfer of an existing PRSA or RAC at any time under your PRSA a fee will apply (see our broker fees).
Who pays the fee invoices?
You must pay the broker fee invoice unless the PRSA is employer sponsored. Where the PRSA is employer-sponsored and operated through payroll, and your employer has agreed to cover any applicable setup fees, this should be confirmed at application stage.
PRSA Set up
How long does it take to go live once I return my application and ID documents?
For regular contribution PRSAs with or without lump sum injections 2-3 working days.
For PRSAs involving transfers for another life office this depends on how long they take to process your exit and transfer the funds to Royal London.
Will I have online access to view my PRSA values?
Yes. You will have 24/7 access via a secure online customer portal provided by Royal London. This allows you to view policy details, including fund value, contribution history, and member fund reports.
Who is my point of contact after my PRSA is set up?
- Royal London will provide a direct contact point for policy servicing queries, including changes to contribution levels or fund switches as well as single premium payments.
- One Quote Financial Brokers will facilitate any future PRSA/RAC transfers.
How can I make fund switches once my PRSA is set up?
Fund switches can be requested directly through the Royal London servicing contact provided at policy release.
Can I stop, start, or adjust my regular contributions without affecting the original AMC?
“Yes. The AMC is set at the outset of the PRSA contract and is not affected by changes to contribution levels.
Does an employer payroll-facilitated PRSA remain in my name?
Yes. An employer payroll-facilitated Personal Retirement Savings Account (PRSA) remains in your name, and you are the legal owner of the contract at all times.
Does my Royal London PRSA remain flexible and portable?
Yes. Standard PRSA flexibility and portability provisions apply.
Can broker fees change after my PRSA is set up?
No. Broker fees are confirmed prior to the submission and acceptance of your application. Once your PRSA has been established, the agreed broker fees are fixed and will apply to any future eligible plan transfers under the same PRSA contract.
I am a contractor operating under an umbrella company, can you facilitate an employer funded arrangement?
No. Typically, the firm operating the umbrella company does not permit the direct debit setup.
If I already have a Royal London PRSA with a higher AMC, can I access these execution-only terms?
This is subject to the discretion of Royal London Ireland.
DC Scheme Transfer Limitations / Options
Can I transfer defined contribution (DC) pension scheme benefits into this Execution-Only PRSA?
No. If you are transferring a Defined Contribution (DC) pension to a Personal Retirement Savings Account (PRSA) in Ireland and the value is over €10,000, you require a Certificate of Benefit Comparison (COBC), which moves this into the advice arena.
This Royal London Ireland PRSA service is strictly execution-only in nature and does not provide financial advice or recommendations in relation to occupational pension scheme transfers. As a result, transfers from occupational pension schemes cannot be facilitated under this PRSA service.
Advisory Option
However, where financial advice is required or requested in relation to pension scheme transfers, this can be provided separately, through our low-cost advised service offering.
Our advisory services can include a transfer of a DC scheme benefit to a PRSA subject to COBC requirements.
PRB Option
Alternatively, an execution-only option is available via a Personal Retirement Bond (PRB), providing access to the same Royal London Ireland fund range and annual management charges (AMCs) outlined above.
Under this option, a minimum transfer value of €50,000 applies for defined contribution (DC) schemes. A one-off broker setup fee of 2% of the transfer amount is payable, subject to a minimum fee of €3,000. Please note that Royal London Ireland PRBs are subject to early encashment charges of 3%, 2%, and 1% if funds are withdrawn within the first three years, respectively.
Investment Risk Warning
The value of investments may go down as well as up and you may get back less than you invest. Tax treatment depends on individual circumstances and may change. Currency movements may affect returns where funds have non-euro exposure.
Requesting Your Application Pack
If you wish to receive an Application Pack, it will include a step-by-step outline of the process and the actions required from your side.
When requesting the pack, please state the PRSA type you require from the list below. Please also confirm if a plan transfer is intended, so that we may confirm our fee when forwarding your application pack.
- Regular PRSA
- Employee payroll-deducted PRSA
- Company-funded director PRSA – Own Limited Company
- Private sector PRSA AVCs
You can calculate the applicable fee for your application by referring to the “Our Broker Fees” section nearer the top of this article. For your convenience, here is a link to the Royal London Ireland fund centre, where you can view all funds and their individual factsheets.
Blog Author
Ken O’Gorman – Director, CB, QFA, RPA, SIA – Retirement & Investment Specialist
One Quote Financial Brokers is regulated by the Central Bank of Ireland. Our execution-only PRSAs operate in line with applicable regulatory requirements.
Established in 2008, we deliver clarity, transparency, and financial solutions designed for your needs. This communication is intended to provide factual information about PRSA products and charges and does not constitute financial advice under Irish regulatory requirements.
