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 investors to retain more of their contributions, helping to support better long-term growth.
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.
This Non-Standard PRSA is offered on an execution-only basis, with a one-off direct broker fee. It offers 100% investment allocation, and no commission of any sort is payable.
What Execution-Only Means
- No personal financial advice is provided
- This is a Non-Standard PRSA
- A one-off direct broker fee applies for setup
- You are responsible for all investment decisions, including fund selection, contribution levels, and suitability
⚠️ 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 fee
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 keep the ongoing PRSA charges as low as possible.
Charges & Allocations
- 100% investment allocation on all regular contributions
- 100% investment allocation on any PRSA transfers
- No early-exit charges
- No fund switching charges
- No commissions
- No policy fee
- No additional broker fees for payment of any new single premium lump sums thereafter.
- New single premium lump sums receive 100% allocation subject to a minimum sum of €10,000.
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.
Typical Execution-only Charges vs Royal London
| PRSA Option – Min €350.00 per month | AMC |
|---|---|
| Typical minimum execution-only PRSA | 0.75% |
| Royal London Active Funds | 0.40% |
| BlackRock Index Passive Funds (excluding Cash) | 0.35% |
Typical charges are indicative and based on publicly available market information.
What Lower Charges Can Mean
Retirement savings grow through a combination of:
- Regular contributions
- Investment returns
- Compound growth over time
Illustrative Scenario (Age 35–65):
| Feature | Value |
|---|---|
| Start age | 35 |
| End age | 65 |
| Initial monthly contribution | €500 before tax-relief |
| Contribution indexation | 5% per year |
| Step-ups | +€200 at ages 40, 50, 60 |
| Lump sums | €3,000 at ages 45 and 55 |
| Net investment return | 6% per year |
| Compounding | Monthly |
| PRSA A | 0.75% AMC |
| PRSA B | 0.35% AMC |
Estimated Fund Value at 65
| PRSA | Monthly Contribution | Fund at 65 | Fee Impact |
|---|---|---|---|
| Higher fee (0.75%) | €500+, step-ups & lumps | €1,080,000 | – |
| Lower fee (0.35%) | €500+, step-ups & lumps | €1,140,000 | +€60,000 |
⚠️ 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, depending on company performance.
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 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.
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 fee is a one-off charge.
Regular Contribution Setup
- €750 personal regular monthly PRSA
- €950 per one-man employer sponsored regular monthly PRSA
- Additional lump sum transfers from previous PRSAs (including PRSA AVCs) incur a broker administration fee of €250 per transfer.
Single Contribution Only Setup
- €750 personal single premium (lump sum) PRSA.
- €950 single premium (lump sum) PRSA.
Who This PRSA May Best Suit
This information is provided to explain typical usage; it does not constitute advice or a recommendation for any individual.
- Self-employed professionals and contractors
- AVC contributors supplementing an existing pension
- Financially literate investors who manage their own funds
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.
Taking Control of Your PRSA Costs
For investors who value low charges, transparency, and control, an execution-only PRSA can be a cost-efficient structure.
- Comfortable choosing your own funds
- Contributing €350 per month or more, as a regular contribution
- Setting up a single premium lump sum PRSA of €10,000 or more.
- Transferring an existing PRSA or PRSA AVC.
Application FAQ
- What does the Application Pack include? Your PRSA Application Form, PRSA Product Guide, Preliminary Disclosure Document, Funds Guide, Financial Advisory Waiver, & Our General Terms of Business.
- If applying, will I receive a Personal PRSA Illustration? Yes — once you confirm your personal details and contribution levels by returning your completed Application Form.
- Do I return my Application by post? No, the process is fully digital.
- What must I return with my completed PRSA Application? Submit your completed Application Form along with a wet-signed Financial Advisory Waiver, certified photo ID, and proof of PPSN and address to: apply@onequote.ie
- If I want an Employer-Sponsored PRSA, how do I ensure contributions are collected through payroll? The Application Form allows you to enter both your own and your employer’s email, as well as the employer’s bank details for the direct debit authorization.
- How do I pay the one-off broker fee? We will send our invoice to your email, payable on EFT, on release of your PRSA policy documents.
- Who is my point of contact after my PRSA is up and running? Royal London will provide a direct email contact for policy servicing queries.
- Will I have online access to view my PRSA Values? Yes, you will have online access to view your Royal London PRSA values. Royal London provides a secure online customer portal accessible 24/7, allowing you to view your policy details, including fund value, contribution history, and member fund value reports.
- How can I make fund switches once my PRSA is setup? Royal London Ireland provides an online portal that allows customers to manage their investments, including switching funds and adjusting investment options directly.
- Does my Royal London PRSA remain flexible and portable? Yes, normal PRSA portability and flexibility rules apply.
- Do all PRSAs and fund-based investments carry additional nominal charges beyond their stated AMC? Yes—absolutely. An AMC is never the full, all-inclusive cost. Additional operational fund charges should always be examined for transparency, even when investing in passive fund options.
- What if I have an existing Royal London PRSA with a higher AMC, are these execution-only terms available to me? This will be at the discretion of Royal London Ireland.
Contact One Quote Financial Brokers
If you’re comfortable proceeding 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.
