Pension charges in Ireland can vary significantly and can have a substantial impact on the value of your retirement savings over time.
The main charge is the Annual Management Charge (AMC). Keeping this charge as low as possible can significantly reduce the overall cost of investing throughout the life of your pension. The longer the time until your retirement, the greater the benefit of lower charges, as more of your investment returns remain invested and continue to compound.
- One Quote Financial Brokers offers access to a Royal London Ireland – Non-Standard PRSA.
- Their minimum AMC charges apply, through a transparent fee-based model, offering 100% allocation.
- Our broker fee is paid directly by the client and sits entirely outside the PRSA product.
- The blog article is written specially for private and public sector staff and for the self-employed
- For limited company business owners please visit: Executive Director Option.
Key Information
This is an Execution-only service, which means you choose the product, and no financial advice, recommendation, suitability assessment, or personal review is provided.
- You should only proceed if you are comfortable making your own investment decisions.
- Full product information and investment options are provided in this article to help you make an informed decision.
- This offer is only provided in conjunction with Royal London Ireland.
Snapshot – Fund Choice, Product Charges & Fees
For a quick overview of the key features of the Royal London Ireland Execution-Only PRSA:
Fund Choice
Access a wide range of flexible investment options, as shown in the Royal London Ireland Fund Centre.
Product Charges
100% regular contrution allocation
The PRSA operates on a nil-commission pricing structure:
| Fund Type | AMC |
|---|---|
| All Active Funds | 0.40% p.a. |
| All Passive Funds | 0.35% p.a. |
PRSA Expesnes and Bonuses
- Small additional fund expenses (AIE) may apply subject to your own fund selection.
- In the fund centre click on your chosen fund name to view the AIE.
- A discretionary Royal London Ireland “Value Share Bonus” typcially applies each April.
Other Features
- No policy fees
- No fund switching charges
- No early-exit charges
- No platform fees
- No commission-based remuneration within the product
- No regaulr contibution allocation charges
Direct Broker Fees – (No VAT)
- PRSA Setup fee: From €950.00 to €1,950.00 subject to employment type, payment basis and PRSA Type.
- Existing PRSA transfer fee: 1% of transfer value (minimum €500).
For full details on fund options, charges and fees, please continue reading.
Allocation Terms
The following allocation terms apply to all Royal London Ireland execution-only PRSAs we offer:
- 100% investment allocation on all regular contributions.
- 100% investment allocation on all PRSA and Personal Pension Plan transfers.
- 100% investment allocation on all single premiums of €10,000 or more.
Upfront Cost Transparency
It’s important to understand that all pension plans have small additional operational charges beyond their declared AMC.
You can view each fund’s specific additional expense charge (AIE) by clicking on your chosen Funds Name or Fund Factsheet (PDF) when visiting the Royal London Fund Centre.
Additional expense charges are clearly visible on the left hand side (under the heading Key Information) of each funds factsheet. They currently range from approximately 0.01% to 0.18%, depending on the funds you select.
Examples include:
- RL BlackRock Developed World Equity Index Fund at 0.01%
- RL Multi-Asset Balanced Fund at 0.18%.
Please Note
- Additional Investment Expenses (AIE) they should be added to the base AMC.
- (AIE) may vary over the lifetime of this PRSA, just the same as with any PRSA contract.
- The figures referenced above reflect the maximum range of charges applicable as of July 2026.
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.
Available Fund Choice – Royal London Ireland
This Royal London Non-Standard PRSA provides access their full 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 between funds at any time without charge.
View all their fund options in the Royal London Fund Centre.
Fund Choice Suitability & Risk Management
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 and in the customer guide provided in the application pack.
How Our Broker Service Works
A broker setup fee applies covering the establishment of your PRSA, whether Personal, Payroll Deducted, or a solely company-funded Director PRSA.
An additional broker transfer fee may only 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, with:
- No policy fees
- No fund switching charges
- No early-exit charges
- No trail commission
- No platform fees
- No commission-based remuneration within the product
- No allocation charges (min 10K Single Premiums)
Our Broker Fees
Our broker fee depends on factors such as your employment status and whether you are transferring an existing personal pension arrangement.
The applicable fee is confirmed before your PRSA is established and is fixed and clearly set out in your Personal Business Terms Statement from the outset.
An invoice will be issued directly to you following the successful establishment and funding of your new PRSA. No VAT is charged.
1. PRSA Setup Fees
A setup fee applies when establishing your new execution-only PRSA, whether funded by regular monthly contributions, annual contributions, a single premium, or a combination of these.
Regular contribution PRSAs require a minimum contribution of €500 per month (or annual equivalent).
For the purposes of the fees below, “Staff” refers to employees who are not executive directors or business owners.
PRSA – Main Retirement Plan
| PRSA – Type | Fee |
|---|---|
| Staff – Personal Account | €950 |
| Staff – Through Payroll | €1,250 |
| Self-Employed | €1,500 |
| Executive Director | Fee |
PRSA – AVC Arrangement
| PRSA AVC – Type | Fee |
|---|---|
| Private Sector – DC | €1,500 |
| Public Sector – DB | €1,950 |
2. PRSA Transfer Fee
Where an existing PRSA, PRSA AVC or Personal Pension Plan is transferred into your new PRSA, a one-off transfer fee applies in addition to the applicable setup fee.
We provide full instructions on the transfer process and supply the Royal London transfer request document required by your existing pension provider.
Transfers from Master Trusts are not permitted under this offer.
- 1% of transfer value
- €500 minimum fee
Where multiple pension plans are transferred, an additional administration fee of €150.00 applies. The maximum single transfer fee is capped at €3,000.
Single-premium-only PRSAs are available and subject to the same setup fee. Transfer only PRSAs are subject to the transfer fee in addition to the setup fee.
No Other Broker Charges
There are no other broker charges outside of the setup and transfer fees outlined above.
Why PRSA Charges Matter
Lower-cost PRSAs result in a greater proportion of contributions being retained within the fund, which affects the impact of compound growth over time.
Illustrative comparison of execution-only charges under this model
| PRSA Option | AMC |
|---|---|
| Other PRSA | 0.75% |
| Active Funds | 0.40% |
| Passive Funds | 0.35% |
The above information is based on indicative market observations and publicly available information, which may vary depending on provider, product structure, and individual circumstances.
Running Your Own Calculations
A common mistake when comparing PRSA AMC charges is focusing only on how long it takes to “recover” an upfront broker fee.
Our fees represent a fixed cost. An Annual Management Charge (AMC), however, applies every year and reduces investment growth throughout the lifetime of the PRSA.
For this reason, when comparing pension structures, it is important to consider not just upfront costs, but also the long-term effect of ongoing annual charges. It is also worth considering that your regular contribution level is unlikely to remain at the same level for lifetime of your PRSA.
For an accurate comparison it may be best to include 5% per annum indexation of your regular contribution over time and to factor in any possible lump sum injections.
Illustrative Scenario (Age 35–65)
| Feature | Value |
|---|---|
| Start age | 35 |
| End age | 65 |
| Starting at | €650 per month |
| Indexation | 5% per year |
| Lump sums | €10,000 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 AMC (0.75%)
Monthly contribution: €650+, step-ups & lump sums
Fund at 65: €1,168,000
Lower AMC (0.35%)
Monthly contribution: €650+, step-ups & lump sums
Fund at 65: €1,240,000
Illustrative difference under stated assumptions: approximately €72,000
Upfront Broker Fees vs. No Fee Higher AMC
Why Consider Paying a Fee?
- Early Years: When your pension balance is small, a higher AMC (like 0.75%) takes a relatively small amount of money each year. At this stage, a flat upfront fee may seem expensive.
- Later Years: As compounding growth swells your pot, a percentage-based fee can become highly punitive. Even a 0.75% charge on an accumulating fund can strip out thousands of euros every single year. Conversely, a 0.35% to – 0.40% charge cuts that ongoing yearly retirement pot erosion significantly.
Lifetime Compounding
The Retirement Lock-In Advantage
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.
*Public Service PRSA AVC (Defined Benefit Schemes)
This execution-only service is made available for new Public Sector AVC contributions, subject to the client obtaining and sharing detailed information on any retained Irish pension benefits from previous private sector employment, in addition to detailed information pertaining to their current defined benefit public sector scheme membership.
This information is required on the PRSA AVC application form, supplied as part of the application pack.
- To understand how AVCs operate within the wider Irish public sector pension system, you can read our general guide to public sector AVCs. This includes a guide as to the level of information that must be provided where you choose to make a PRSA AVC application.
Restrictions on Scheme Integrated AVC Transfers (Non stand alone PRSA AVC)
- This service is available exclusively to members of the Single Public Service Pension Scheme.
- Applications are accepted for new PRSA AVC arrangements only.
- Transfers of existing integrated Scheme AVC funds are not facilitated as part of this service.
- Existing scheme integrated AVC arrangements are outside the scope of this service.
When Financial Advice is Recommended
This structure may not suit individuals who require personalised advice, are unfamiliar with investment risk, or prefer ongoing guidance.
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
What’s supplied at Application?
- 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 post policy release.
If contributions aren’t deducted through payroll, how do I claim tax relief?
Once your policy is issued, Royal London will provide a Pension Contribution Certificate for Revenue. PAYE employees can claim tax relief through Revenue myAccount by requesting an adjustment to their tax credits. Royal London will issue an updated certificate each year. This applies to both PRSA and PRSA AVC contributions. See the Revenue guide for more information.
Revenue will then issue an updated Revenue Payroll Notification (RPN) to your employer, who will apply the revised PAYE instructions. Alternatively, you can claim the tax relief after the end of the tax year through your Revenue myAccount tax return, including details of your PRSA contributions and supporting documentation.
Can I split my contributions across a number of funds?
Yes, you can split your contributions across any of the fund choices on offer and later change your fund choices at any time.
What allocation applies to single premium contributions below €10,000?
In line with Royal London Ireland’s PRSA terms, single premiums below €10,000 receive 98% investment allocation.
Can I transfer defined contribution (DC) pension scheme benefits into this Execution-Only PRSA?
This Royal London Ireland PRSA service is strictly execution-only and does not provide financial advice or recommendations regarding occupational pension scheme transfers. Consequently, transfers from occupational pension schemes (including Master Trusts and scheme-integrated AVCs) cannot be facilitated under this PRSA service.
Could the AMC increase in the future?
The Preliminary Disclosure Certificate includes standard wording allowing charges to be reviewed if circumstances change, such as changes in regulatory requirements, administration costs or other underlying assumptions. This does not mean that the AMC will change or that an increase is expected in the Additional Investment Expense (AIE) applicable to your chosen fund. As with any PRSA, the contracted AMC will not increase over the lifetime of your investment, although additional operational fund charges may vary, particularly on actively managed funds.
Do all PRSAs have Additional Expense Charges?
Yes. The Annual Management Charge (AMC) is not the total cost of any investment product. Additional operational fund charges apply and should be reviewed carefully for transparency, including where passive fund options are selected.
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 required direct debit arrangement.
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 set up 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.
Can I setup a PRSA AVC on this execution-only basis?
PRSA AVCs are made available for both Defined Contribution and Defined Benefit Occupational scheme members. In both cases, in establishing a PRSA AVC you will need to claim the contribution tax-relief yourself and manage it within personal contribution revenue limits.
If I’m a company director or have an employer sponsored PRSA, how do I claim tax-relief?
Where contributions are made via payroll, the tax relief is granted at source and reflected in your payslip.
Setup Process
How long does it take to go live once I return my application and ID documents?
For regular contribution PRSAs, with or without a lump sum contribution, your plan will normally go live within 2–3 working days of Royal London Ireland receiving your completed application and ID documents. For PRSAs involving a transfer from another pension provider, the timescale depends on how quickly your existing provider processes the transfer and releases the funds to Royal London Ireland.
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.
Documents & Online Access
When do I receive my policy documents?
Once the first payment is received on your PRSA your policy goes live.
How do I receive my policy documents and portal access?
When a client’s policy has been set active, they receive an email with a link to register to the online portal. The link will ask them to confirm some details and then a code will be sent to their mobile for authentication. Then they’ll be asked to create a password and can log in with their email address and password via royallondon.ie -> customer login -> pension customer.
⚠️ 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
Your Application Pack, will include a step-by-step outline of the application process and will include:
- PRSA Application Form, PRSA Product Guide, PRSA Funds Guide, Our Terms of Business and a Preliminary Disclosure Document.
Your Personal Illustration is subject to confirmation of application information and is provided immediately on receipt of your completed application form.
How to apply – Requesting your Application Pack
When requesting your Application Pack please confirm the following information:
- PRSA type – Regular PRSA or PRSA AVC?
- PRSA plan transfer if intended (stating the amount)?
- Occupation type: Self-employed, Private Sector Staff Employee, Public Sector, or Company Director?
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.
