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» Lump Sum Deposits

Regular Saver Investments
Aviva have recently launched a regular saver account for individuals. This products offers fanastic investment at low management charges. Unlike other products there are no exit or entry fees.  The management fee is 1.5% for most funds with a €2.50 per month policy fee.  This is one of the best value investment funds on the market.  As banks are reducing their deposit rates investors need to look elsewhere for returns.  Investors can choose from a variety of bond, managed and specialist funds. This also opens up the options of averaging in for lump sum pension contributions as described below.

Averaging In for Lump Sum Pension Contributions
Euro cost averaging works as follows:
Regular investments are made to an investment account. For this example we will say on a monthly basis. To keep things simple we will also say that the investment account is allocated 100 percent into one managed fund. We will use €100 as the monthly investment figure. Now, depending on how markets perform  this fund's price is going to fluctuate from day to day. So let's look at a six-month example in the table below.

In the example above, you have invested €600 and your account is now worth €791.73. Over the six-month period, you paid an average of €14.33 per unit. If you would have taken all €600 and purchased the shares at the beginning of the six months, you would have purchased 30 shares and your account would now be worth just €750.00. For this example, using Euro cost averaging has increased your account by more than 5%.  

This can be done through a regular investment account where you can have access to your money but at the same time average into an investment. This investment could then be contributed to a pension by way of a lump sum payment (subject to tax relief being available at the higher rate) benefiting from the averaging in described above once the client was satisfied they did not need the money and could contribute to a pension. This could be after 1,2 or 3 years depending on an individuals circumstances.

Importantly Investors can withdraw their funds without penalty at any time.

SmartQuotes.ie are offering clients 100% allocation of funds providing the regular invested amount is €150 or more. This applies to regular and lump sum investments.  Contact us to to request more information and an application form.

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Lump Sum Deposits
In response to the increased savings rate SmartQuotes have announced various savings products.

The various different types of savings products are detailed below.

Sample of rates currently available:

Correct as at 11/1/2010.  Deposits are with Permanent TSB.

For an application please fill in the contact us form.

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