Enhanced bonus commission on Synergy PRSA - extended
We recently introduced a limited offer of enhanced Bonus Commission of 0.5% on Synergy PRSA options which offer AMC rebate. This means up to 3% bonus commission is now payable on 0.25% rebate options, up to 1.5% on 0.45% rebate options and up to 1% on 0.50% rebate options.
We previously announced these terms would be available until 31 March 2025 but we’re pleased to tell you the enhanced bonus commission will continue to be available after that date, and we’ve made some system updates to make availing of these terms a little easier. You can now use our online New Business Quotes tool (NBQ) to create a personal illustration, meaning you no longer need to use generic illustrations.
You can also now access policy documents online for policies with these enhanced terms.
These enhanced rates are available on external transfer payments and single contributions where:
- The transfer payment comes from an external provider. The enhanced rates are not available where the transfer payment is coming from another Standard Life policy.
- The Synergy PRSA product option chosen has an AMC rebate^ (product options G – P)
- There’s a term of 10 complete years or more to the selected retirement age.
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The enhanced Bonus commission is not available where the transfer payment is coming from another Standard Life policy.
^AMC rebate is applied as a credit to the policy on a monthly basis only when the policy value is ≥€100,000.
+ For regular contributions on product structures J, K, L and P, term is defined as Selected Pension Age (max. age 68) minus age attained at the first regular contribution due date. Front initial contribution commission is not available if the customer is 67 or older on the due date.
++Term is defined as the number of complete years to Selected Pension Age (maximum 75) on the allocation date of the single contribution or transfer payment on structures G-P.
*Vesting commission (optional) payable on vesting where requested and customer is aged 75 or younger
**Based on AMC + FBRC – AMC rebate. Does not allow for allocation charges and assumes a value of ≥€100,000. Refer to our Breakdown of fund costs for AMC and AE rates on funds.
Get started on a new online Synergy PRSA application
Why Synergy PRSA?
These are the latest improvements to the Synergy PRSA and complement the suite of the enhancements we’ve made to the proposition recently including:
- The introduction of commission options at the point of vesting recognising the importance of the role of the adviser at the point of retirement
- Additional pricing options with AMC now starting at 0.40%, designed to suit you and your customers’ needs
- Online applications to make your new business journey quicker and more efficient
Talk to your business manager about Enhanced bonus commission on Synergy PRSA today.