Pension plan charges in Ireland are often higher than investors realise, which can materially reduce long-term retirement outcomes. This is particularly evident in Annual Management Charges (AMCs), which are applied each year to the total value of your pension fund.
A lower charging structure allows a greater proportion of contributions to remain invested, with no ongoing commission being applied.
As a result, One Quote Financial Brokers has partnered with Royal London Ireland to offer a Non-Standard PRSA with an AMC of 0.35% per annum on passive funds and 0.40% per annum on active funds.
What Execution-Only Means
- Non-Standard PRSA offered on an execution-only basis.
- The plan provides 100% investment allocation, with no commission payable.
- A minimum regular contribution of €350 per month applies, payable by direct debit.
- Existing PRSA transfers from other life companies will incur an additional fee at setup, or if occurring at anytime during the plans term.
- New business single premium lump sums are subject to a minimum sum of €10,000.
- No personal financial advice is provided.
- You are responsible for all investment decisions, including fund selection, contribution levels, and suitability.
- No financial advice or personal recommendation is provided. You must determine whether this product is suitable for your own needs.
⚠️ This information is factual only and does not constitute a recommendation.
Key Features at a Glance
- AMC from 0.35%
- 100% allocation
- No commission
- Execution-only structure
- One-off broker setup fee
- Additional fee for other PRSA or RAC Plan transfers
- Additional fee for the investment of new single premium lump sums
Available Fund Choice
This Royal London Non-Standard PRSA provides access to a broad choice of funds, including:
- Multi-Asset Funds (ranging from defensive to adventurous)
- Passive index funds (regional & asset-specific)
- Cash fund (actively managed)
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. |
Total Cost Transparency
Additional Investment Expenses (AIE) apply to all fund-based investments, including PRSAs, and should be considered alongside the AMC to better understand the total cost of your investment. These expenses tend to be minimal, particularly for passive fund choices. For example, as low as 0.01% on the RL BlackRock Developed World Equity Index Fund.
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.
- Royal London active funds max on any one fund AIE: 0.18%
- BlackRock passive funds max on any one fund AIE: 0.08%
NOTES
- You can view fund-specific (AIE) by selecting your chosen fund’s individual fund Factsheet, within the Royal London Fund Centre.
- 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.
How Our Service Works
A one-off broker fee applies, payable to us via a direct invoice to arrange your PRSA.
This ensures the product remains entirely commission-free, helping to maintain a lower ongoing charge structure.
Charges & Allocations
- 100% allocation subject to a minimum sum of €10,000 on new single premiums
- 100% investment allocation on all regular contributions
- 100% investment allocation on any PRSA or RAC transfers
- No early-exit charges
- No fund switching charges
- No commissions
- No policy fee
Note: This service does not facilitate transfers outside of those coming from another PRSA or RAC (Personal Pension).
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.
Illustrative comparison of execution-only charges
| PRSA Option | AMC |
|---|---|
| Typical PRSA | 0.75% |
| Royal London Active Funds | 0.40% |
| BlackRock Passive Funds | 0.35% |
Typical charges shown are indicative, based on publicly available information, and may vary depending on provider, product structure, and individual circumstances.
What Lower Charges Can 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
+€60,000 difference
⚠️ Past performance and hypothetical scenarios are not indicative of future returns. The impact of charges will depend on actual investment performance and may be higher or lower.
Royal London ValueShare Bonus
- Added annually to your pension unit value (usually April)
- Once added, it compounds alongside your pension
- Past three years (including April 2025) added ~0.13% per year in bonus units
Royal London PRSA policies may be eligible for discretionary ValueShare additions, which are not guaranteed.
Help Choosing Your Funds
To assist with fund selection, clients can opt to use the Royal London Online 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 and review fund factsheets.
Clients may review this on-line tool for informational purposes only; it does not constitute advice or a recommendation. All investment decisions remain the client’s responsibility.
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.
It is designed to reduce investment risk as you approach retirement by gradually moving from higher-risk funds into lower-risk funds, helping to protect your fund from market volatility – learn more.
Our Broker Setup Fees
The broker setup fee is a one-off charge, payable at the time your PRSA is established.
Contributions at Setup
- €750 – Personal regular monthly PRSA
- €950 – One-man employer-sponsored regular monthly PRSA
- €350 – Additional lump sum single premiums (broker administration fee)
- €1,500 per transfer – Lump sum transfers from previous RACs or PRSAs (including PRSA AVCs)
Future Plan Transfers
- €1,500 per transfer – Applies to transfers from previous RACs or PRSAs (including PRSA AVCs)
New Single Premiums
- €350 – Personal single premium (lump sum)
Notes
- This service facilitates transfers only from PRSAs, PRSA AVCs, or RACs (Personal Pensions). Transfers from other pension arrangements are not supported under this execution-only service.
-
Royal London Ireland operates as a broker-only pension provider. While they facilitate direct fund switches and changes to regular contributions, any:
- single premium contributions, or
- eligible plan transfers
will be referred back to us as the servicing broker under your PRSA policy.
Typical Use Cases (Non-Advisory)
This information is provided to explain typical usage; it does not constitute advice or a recommendation for any individual.
- Individuals contributing to their own pension arrangements
- PRSA AVC contributors supplementing existing pension benefits
- Individuals who prefer to make their own investment decisions without advice
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.
Summary of cost structure and typical usage
This type of structure is typically used where:
- Investment decisions are made without financial advice
- Contributions meet product minimum requirements (e.g. €350 per month or €10,000 new investment lump sum)
- This is an execution-only service. No financial advice or personal recommendation is provided. You must determine whether this product is suitable for your own needs
Application FAQ
Getting Started
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 General 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. Additional operational fund charges may apply and should be reviewed carefully for transparency, including where passive fund options are selected.
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.
Submitting Your Application
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 wet-signed Financial Advisory Waiver
- Certified photo ID
- Proof of PPSN
These should be sent 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.
Fees & Charges
How do I pay the one-off broker setup fee?
An invoice will be issued to your email once your PRSA policy documents have been released.
When is the one-off broker setup fee due?
The plan setup fee is payable once your PRSA go live and you receive your policy documents.
Is there a charge for facilitating future lump sum contributions or transfers?
Yes. An administration fee of €350 applies per transaction in respect of lump sum contributions, whereas for eligible plan transfers a fee of €1,500 applies.
After Your PRSA Is Set Up
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.
One Quote Financial Brokers will facilitate any future lump sum contributions or 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.
Does my Royal London PRSA remain flexible and portable?
Yes. Standard PRSA flexibility and portability provisions apply.
Important Limitations
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.
Can I transfer defined contribution (DC) pension scheme benefits into this Execution-Only PRSA?
No. This 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 service.
Where financial advice is required or requested in relation to pension scheme transfers or retirement planning, this can be provided separately through our low-cost advised service offering.
Contact One Quote Financial Brokers
If you wish to proceed on an execution-only basis, you can request your application pack below.
In doing so, please state if you require a Regular PRSA, PRSA AVC, or Employer payroll deducted Application.
Blog Author
Ken O’Gorman – Director, CB, QFA, RPA, SIA – Retirement & Investment Specialist
One Quote Financial Brokers is authorised 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. It does not constitute financial advice under Irish regulatory rules.
