PRSA

Leading experts on Personal Retirement Savings Accounts (PRSA) in Ireland.

LCP Ireland act as PRSA Actuary to a number of non standard PRSAs providers. We are leading experts on PRSAs in Ireland.

PRSA providers

LCP offers PRSA Actuary services to PRSA providers. The Pensions (Amendment) Act, 2002 introduced the concept of PRSA in the Irish market. Each provider of PRSAs must employ or retain the services of a PRSA actuary. The obligations placed on the PRSA actuary include the following:

  • To determine the extent to which the provider has complied with statutory requirements
  • To certify that charging practice reflects illustration details and complies with the statutory requirements, and that the product complies with statutory requirements

The process of obtaining approval as a PRSA provider is difficult and intensive. We have already assisted a number of providers in their submissions. We can provide the guidance and expertise needed for any new PRSA application.

PRSA Certificates of Comparison
Transfers from occupational pension schemes to a PRSA, require a certificate of comparison and written statement before proceeding. LCP Ireland have the necessary expertise to prepare these, and have prepared certificates for transfers to all of the major PRSA providers. We can provide statements for both Defined Benefit & Defined Contribution Schemes. See procedures attached. (link)

PRSA Certificates of Comparison

Transfers from occupational pension schemes to a PRSA, require a certificate of comparison and written statement before proceeding. LCP Ireland have the necessary expertise to prepare these, and have prepared certificates for transfers to all of the major PRSA providers. We can provide statements for both Defined Benefit & Defined Contribution Schemes.