Enhanced bonus commission on Synergy PRSA – available until 28 February 2025
Amidst the ever changing landscape of pension products, the Synergy PRSA offers a compelling solution to those planning for their Second Life. In recognition of the key role of the adviser in the retirement planning process, we’re offering 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.
These enhanced rates will be available from 22 October until 28 February 2025 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?
IORP II regulations mean there are some important decisions to be made by trustees of one member pension arrangements in the coming months. The Synergy PRSA is a natural alternative for members seeking to retain control and direct ownership of their pension product. The Synergy PRSA offers:
- Simplicity – we’ve developed an easy, intuitive online application for PRSA, PRSA AVC and Transfer from Synergy Executive Pension to PSRA. And we’ve established a dedicated PRSA team supporting faster service
- Choice – varied range of investment options including the newly launched Standard Life Vanguard Global Small-Cap Index Fund, MyFolio, Global Index funds, ESG options, deposits, self-directed options, and our glidepath option Target Retirement Funds all available
- Clear pricing – road-tested and adviser approved we have clearer pricing to suit how you do business, and earlier this year, we introduced the payment of commission at the point of Vesting
Talk to your business manager about Enhanced bonus commission on Synergy PRSA today.