Pension charges in Ireland can vary significantly and can have a substantial impact on the value of your retirement savings over time.
The main cost is the Annual Management Charge (AMC), an ongoing percentage fee deducted each year by the pension provider. Keeping this charge as low as possible can help reduce the overall cost of investing over time and up to retirement.
One Quote Financial Brokers operates on a transparent fee-based model. Instead of receiving commissions from the pension provider, our fees are paid directly by the client and sit entirely outside the pension product.
This structure allows us to offer 100% allocation and access to a Royal London Ireland Non-Standard PRSA and PRSA AVC with their minimum AMC charges.
Our broker fee depends on factors such as your employment status and whether you are transferring an existing pension arrangement. Confirmed at point of set up and payable when your PRSA goes live, the total broker fee is fixed and one-off.
Product Charges (Annual Management Charge)
The following Annual Management Charges (AMC) apply to the Royal London Ireland Non-Standard PRSA:.
| Fund Type | AMC |
|---|---|
| All Active Funds | 0.40% p.a. |
| All Passive Funds | 0.35% p.a. |
These AMC charges reflect a nil-commission pricing structure.
Important Information
This is an execution-only service. Under Central Bank of Ireland regulations, no financial advice, recommendation, suitability assessment, or personal pension review is provided.
- You should only proceed if you are comfortable making your own investment decisions and are satisfied that a Royal London Ireland Non-Standard PRSA is suitable for your circumstances.
- Full product information and investment options are provided within this article to help you make an informed decision.
Contributions & Allocation Terms
The following allocation terms apply to all Royal London Ireland execution-only PRSAs we offer:
- 100% investment allocation to all regular contributions
- 100% investment allocation to all plan transfers
- 100% investment allocation to all single premiums of €10,000 or more.
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.
- In line with Royal London Ireland’s PRSA terms, single-premiums below €10,000 receive 98% investment allocation.
- Your PRSA remains fully flexible post set-up.
- A 30-day cooling-off period also applies.
Understanding the AMC Contract Basis
This Royal London Ireland PRSA operates on a 0.40% p.a. 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.
So, if you only choose passive funds your AMC is restricted to 0.35% p.a.
The AMC that will apply to your chosen funds will be clearly stated on your policy schedule and annual benefit statements.
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.
How Our 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 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)
Our Broker Fees
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).
Single-premium-only PRSAs are available and are subject to the same setup fee.
| PRSA Type | Setup Fee |
|---|---|
| Personal PRSA | €750 |
| Private Sector AVC | €950 |
| Payroll PRSA | €1,200 |
| Self-Employed PRSA | €1,500 |
| Public Sector AVC | €1,950 |
| Company Director PRSA | €2,950 |
2. Pension Transfer Fees
If you choose to transfer an existing PRSA or Personal Pension Plan (PPP) into your new PRSA arrangement, a one-off transfer fee applies in addition to the stated setup fee.
The plan transfer fee amounts to 1% of the total transfer value, subject to a minimum fee of €500.
Where multiple or high vlaue plans are transferred, this fee is subject to the maximum cap of €3,000 in total. Fees may be applied progressively as transfers are completed from different providers. An additional administrative fee of €150 per additional plan transfer applies, where multiple pension providers are involved. We provide full instructions relating to the transfer process and supply the Royal London “Willing & Able” for your existing provider.
Public Service PRSA AVC (Defined Benefit schemes)
This execution-only service is made available for 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.
Why PRSA Charges Matter
Lower-cost PRSAs result in a greater proportion of contributions being retained within the fund, which may affect the impact of compound growth over time.
Illustrative comparison of execution-only charges
Some other execution-only commission-based PRSA arrangements may operate on higher annual management charges (e.g. 0.60%), depending on product structure and distribution 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
Total PRSA Cost Transparency
Additional Investment Expenses (AIE) are operational fund management expenses that apply to all fund-based investments, including PRSAs, and should be considered alongside the AMC when assessing the total cost of a PRSA. In other words, simply add the AMC on your selected fund to the AIE charge displayed on its fund factsheet.
You can view each fund’s specific AIE by clicking on the relevant fund name or Factsheet (PDF) within the Royal London Fund Centre.
Additional investment expenses currently range from approximately 0.01% to 0.18%, depending on the funds selected.
Examples include the RL BlackRock Developed World Equity Index Fund at 0.01% and the RL Multi-Asset Balanced Fund at 0.18%.
Important Information
Additional Investment Expenses (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 March 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.
Upfront Broker Fees vs. No Fee Higher AMC
Why Consider Paying a Broker 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 accumualting 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
Fund Choice & 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.
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.
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 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.
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.
How do I claim tax relief?
Where contributions are made via payroll, the tax relief is granted at source and reflected in your payslip. For the self-employed, and for individuals making PRSA AVC contributions, see this Revenue guide.
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?
An employer sponsored PRSA can be setup on a defined contribution basis, applying both employer and employee PRSA contribution payments. 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. Future single premiums are facilitated directly through Royal London.
Is there a broker charge for facilitating future plan transfers?
Yes, we the broker facilitate all plan transfers. 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 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 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.
PRSA Set up – Documents & Portal 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.
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.
⚠️ 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 you.
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 we can confirm our fee when forwarding your application pack.
You can calculate the applicable fee for your application by referring to the “Our Broker Fees” section near 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.
