Lifestyle Extra PRSA

Lifestyle Extra PRSA

Built around you.

Lifestyle Extra PRSA Highlights

For investors who want more choice

An advised journey where we get your risk profile, assess your suitability for different products and make recommendations.

Access to a wider range of funds including our ExpertEase range, the default investment strategy MyAutoinvest, and a cash fund.

Flexibility to increase, decrease or pause your contributions as well as topping up your savings with once-off contributions.

Start with as little as €25 per month or €300 per year.

Paperless pension – all documents are stored in your app.

Review your fund performance in app. Keep up to date with investment fund commentaries from our experts and perform fund switches

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Tell me more about the KBC Lifestyle Extra PRSA

  • Our Lifestyle Extra PRSA gives you 8 different investment options. So you can prioritise investing in your comfort zone, we offer 6 ExpertEase funds.

    These multi-asset investment strategies help you personalise your investment to match your attitude to risk. We also offer the KBC Lifestyle Cash Fund - our most defensive investment strategy that provides very modest returns. Or you can choose MyAutoinvest instead.

    This is our default investment strategy and means you don’t have to make any investment decisions on an ongoing basis. Your money is invested to suit your life stage and the remaining term to your chosen retirement date.

    If you’ve a while to go to retirement, your money is invested in higher risk assets for potentially higher returns. But as you move closer to retirement, we move your money into lower risk investments.
  • Control everything with a tap in app. Set your retirement goal and track it.

    Check in on your fund balance or pension performance any time.You can even make additional top-ups, increase, decrease or even pause your contributions.

    The app is also home to all of your documents, including your 6-monthly and annual statements.
  • You can claim tax relief on your contributions at your current rate of income tax. It’s worth noting that the maximum contributions you can claim tax on depend on your age.

    This table is a handy guide.
    Age Bracket% of Net Relevant Earnings
    Under 30: 15%
    30 - 39: 20%
    40-49: 25%
    50-54: 30%
    55-59: 35%
    60 and over: 40%

    When calculating tax relief, there’s a maximum earning of €115,000 per year that can be taken into account. 

    Please note: contribution tax relief isn’t automatically guaranteed and is determined by the Revenue Commissioners, not KBC.
  • Most people draw down their pension between 60 and 75 (there are some early retirement exceptions based on ill health or certain occupations). You can take up to 25% of your pension fund as a lump sum and up to €200,000 of this lump sum may be tax free (subject to overall Revenue limits).

    This handy table explains what happens for different amounts.

    Up to €200,000 - Tax Free
    €200,001 to €500,000 - Standard rate of 20%
    Over €500,000 - Your marginal rate of tax and subject to USC.

    You may have a number of other options available so when the time comes, we’ll help you decide what works for you.

Pensions done differently.

We’re shaking things up with a new and revolutionary way to take out and manage your PRSA!

You can now use our app to open and manage your pension, it’s that easy!

Existing Customer?

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Discover
Log into your app and go to 'Discover more'


Choose
Click on 'Pensions' to find out about our products


Get started
Follow the 4 easy steps to get your Pension started today!
 

PRSA not a customer

Not a customer yet?

Talk to us about a Pension today

Let's get you sorted.

Just give us a call on 1800 51 52 53 or make an appointment below.

Not a customer yet?

Let's get you sorted.

Just give us a call on 1800 51 52 53 or make an appointment below.

Get to know Expert Ease from KBC

Unique


Your pension is unique to you, we believe planning for your retirement should be exciting, not stressful!

We’ve created a simple process that lets you personalise your investment to match your attitude to risk.

Whatever your financial circumstances, investment experience or retirement goal, we can offer you a strategy that suits your personal comfort zone.

De-risking


Our ExpertEase funds automatically reduce your exposure to risk when necessary.

On the flipside, they also make the most of opportunities to generate return, while keeping you in your comfort zone.

Our funds are continuously monitored and are rebalanced daily to keep you in your chosen lane.
 
  • It’s all about making your money work hard for you while keeping you comfortable, regardless of market conditions. When you stay in your comfort zone, you’re less likely to make choice you might regret later. 

    We see your Comfort Zone as having three dimensions: 

    Upside potential: This is the reason we all invest – to achieve the best possible return!

    Downside risk: We all know the value of investments can fluctuate. But we don’t all feel the same about losses – our comfort zones are different. If you suffer a loss outside of your comfort zone, you may turn your back on the market at the wrong time. We want to avoid this.

    Time horizon: Your PRSA is a medium to long term investment. This means your chosen investment strategy usually has a reasonable chance to make good any losses along with way.
  • We’ve got your back on this one and will do the hard work for you. We’ll ask you a few financial questions to learn about your risk attitude and tolerance, your financial knowledge and to see how you feel about uncertainty. Then we can identify your risk profile, which is made up of two parts: 

    Your Investor Profile:
    Very Defensive
    Defensive
    Dynamic
    Very Dynamic  

    Your Loss Tolerance:
    Careful
    Balanced
    Neutral
    Progressive

    We can then recommend the most suitable ExpertEase fund for your comfort zone, and we’ll also show you funds of similar risk levels. You’re involved without dedicating lots of time to picking and managing your funds – we’ll take care of that for you. We know that your attitude to risk or your financial situation can change at any time, so you’re free to switch your fund in-app at any stage, at no extra cost.
  • Each ExpertEase fund is built with three main blocks of balanced funds. Each block corresponds to an ‘investment signal’ that determines what percentage is allocated to equity, bonds and other assets (like cash or real estate). The weighting for each block/signal varies, differentiating the level of risk for each fund. 

    Investment Signals

    Each of our three signals or blocks strikes their own individual balance between upside potential and risk of loss. So each will behave differently within the same markets conditions.

    Here’s more about the signals:

    1. Fundamental analysis: Follows the KBC investment strategy and so is based on views taken by our economists and analysts on economic trends and outlook. Develops an optimum allocation of equity, bonds, cash etc. for each profile.

    2. Trend signal: Seeks out trends in the recent performance of equity and bonds on a continuous basis. Builds up positions in the best-performing assets and reduces them in weaker ones.

    3. Brake signal: Normally, this signal points to investing in equity and bonds in line with your risk profile. However, if the markets falls or it’s nervous, this will indicate a need to be more cautious and replace risky assets with less risky ones. 

    Essentially, each signal strikes its own balance between upside potential and risk of loss. They can be invested differently under the same circumstances and may react differently to changing market conditions.
  • There’s a contribution charge of 2.5% on each contribution you make. However, the good news is that this charge doesn’t apply to pension transfers into your KBC Lifestyle Extra PRSA. The annual fund management charge for these portfolios ranges from 0.5% - 1.45% of the value of your PRSA. It’s calculated on a daily basis and reflected in your fund value. 

    PortfolioAnnual Fund Management Charge

    MyAutoinvest - 0.9%
    ExpertEase Careful Defence - 0.95%
    ExpertEase Balanced Defence - 1.35%
    ExpertEase Progressive Defence - 1.35%
    ExpertEase Balanced Approach - 1.40%
    ExpertEase Progressive Approach - 1.40%
    ExpertEase Progressive Opportunity - 1.45%
    KBC Lifestyle Cash - 0.50%
     

Education Hub

Education Hub

Pensions Education Hub
Pensions can seem complex, but they don’t have to be. We’ve answered some of the most-asked questions to make your retirement planning that little bit easier.

Education Hub

Pensions can seem complex, but they don’t have to be. We’ve answered some of the most-asked questions to make your retirement planning that little bit easier.

Table of fund pricing:

Lifestyle PRSA Fund Prices

Fund Name: Fund Price at 08/04/2021: 1 month
performance at 08/04/2021:
3 month performance at
08/04/2021:
6 month performance at 08/04/2021: 12 month performance at
08/04/2021:
YTD performance at 08/04/2021:
MyAutoinvest equity funds €1,265.89

5.58%

7.75% 18.42% 37.88% 11.19%
MyAutoinvest bond funds €985.68 0.27% -1.67% -0.75% 3.82% -1.69%
MyAutoinvest cash funds N/A* N/A N/A N/A N/A N/A

 

*the cash fund currently has no contributions invested in it, so does not have a unit price.

LifestyleExtra PRSA Fund Prices

Fund Name: Fund Price at
09/04/2021:
1 month
performance at
09/04/2021:

3 month
performance at 09/04/2021:

6 month performance at 09/04/2021: YTD performance at 09/04/2021:
ExpertEase Careful Defence

€1,054.66

1.51% 1.59% 3.99% 2.29%
ExpertEase Balanced Defence €1,063.34 1.92% 2.51% 5.11% 3.32%
ExpertEase Progressive Defence €1,077.08 1.91% 2.44% 6.06% 3.42%
ExpertEase Balanced Approach €1,121.20 3.14% 5.02% 9.89% 6.44%
ExpertEase Progressive Approach €1,114.09 3.13% 4.90%

9.60%

6.24%
ExpertEase Progressive Opportunity €1,143.79 4.03% 6.74% 12.21% 8.36%
Lifestyle Cash €993.31 -0.09% -0.26% -0.50% -0.29%

The Need-to-Knows

We recommend that all customers take the time to read our KBC Life and Pensions Data Protection Notice and Terms of Business (pdf, 171KB).
 
Read our Remuneration Summary Document (pdf, 73 KB)

*As at December 2019.

  • The Irish Branch of KBC Insurance NV, trading as KBC Life and Pensions, offer a number of investment funds through our PRSA products. These funds are created and managed by KBC Asset Management (KBC AM), a member of KBC Group, who provide investment management services to KBC Life and Pensions. KBC Life and Pensions fully accept the sustainability policies applied by KBC AM. 

    KBC AM understands sustainability risk as the risk that the return of investments may be negatively affected by environmental, social or governance risks.
    Environmental risk is defined as the risk that the return of investments may be negatively affected by environmental factors, including factors resulting from climate change and factors resulting from other environmental degradation.  Social risk is defined as the risk that the return of investments may be negatively affected by social factors. Governance risk is defined as the risk that the return of investments may be negatively affected by governance factors.  

    The nature of these risks varies along a time scale:

    • In the short term, sustainability risk is typically event risk. Such risks typically only affect return if the event occurs.  Examples of such events include an accident (resulting in litigation for example to compensate damage to the environment); court cases and penalties (for example for failing to respect social legislation); scandals (for example when a company gets bad publicity because human rights are not upheld throughout its supply chain or because a company’s products do not uphold the ESG standards it promises).  These types of sustainability risks are deemed higher, when an issuer is less strict on ESG standards; and
    • In the longer term, sustainability risk refers to risks that may develop over the long term, such as: exposure to business activities that may come under pressure due to climate change (for example parts of the automotive industry); changing product preferences from customers (for example an increased preference for more sustainable products); difficulties in recruiting; increased costs (for example insurance companies that face claims due to changing weather conditions).  As this risk develops over the long term, companies can take steps to mitigate it e.g. by changing their product offer, improving their supply chains, etc. 


    In its investment policy, KBC AM takes these sustainability risks into account by:           

    • (i)    defining an exclusion policy (the “Exclusion Criteria”)[1] which applies to all funds; and
    • (ii)    differentiating between sustainable and responsible investing (“SRI”) funds and other conventional funds, with stricter ESG standards and hence lower sustainability risk for the SRI funds.

    The investment policy of KBC AM continuously assesses the underlying investments at issuer level, but also (where relevant) at the level of asset allocation and regional or sectoral allocation level. These regular reviews consider sustainability risk as one of several elements that may affect return. The SRI research team assigns an ESG risk rating to most companies included in the common indices MSCI World and MSCI Emerging Markets and a selection of small and midcap companies based on inputs from an ESG data provider. The ESG risk ratings are shared internally with portfolio managers and strategists so they can use this as a factor in the investment decision process. 
    The investment policy does not merely frame permissible investments by reference to the financial position of the business or government but also the societal impact of the company or government in question. KBC AM is constantly monitoring its investment policy and its application to its business as a key part of its drive to deliver long-term sustainable investment returns for its clients. 

    As part of its commitment to long-term sustainable investment, KBC AM applies additional SRI criteria to its SRI funds. These are described in its SRI policy.

    Please note that KBC AM`s passive investment funds, structured funds and funds investing in third party funds may not apply all the Exclusion Criteria. MyAutoinvest, the default investment strategy for KBC PRSAs is primarily a passive investment strategy.

     

    Ethical Standards
    The KBC Group, to which KBC AM belongs, is committed to the following international business codes and KBC AM’s investment policy and processes are aligned with these commitments: 

    • United Nations Environmental Programme Finance Initiative (UNEP FI) Principles for Responsible Banking;
    • The Collective Commitment to Climate Action, by which the KBC Group committed itself to stimulate the greening of the economy as much as possible and thus to limit global warming to well-below 2°C, striving for 1.5°C, in line with the Paris climate agreement;
    • Tobacco-Free Finance Pledge which encourages financial institutions to divest from the tobacco industry; and
    • United Nations Principles of Responsible Investments.
  • The Irish branch of KBC Insurance NV, trading as KBC Life and Pensions, is a member of KBC Group. 

    The KBC Group Remuneration Policy is a framework for a sound remuneration practice within KBC Group worldwide in line with the corporate sustainability strategy and considering the European and different national legislations aiming sustainability (including article 5 of  Regulation 2019/2088 on sustainability related disclosures in the financial services sector).
    The KBC Group Remuneration Policy aims to ensure consistency with and to promote sound and effective risk management (e.g. “sustainability” is a specific parameter for the evaluation of KBC Senior Management).

    Furthermore, the KBC Group Remuneration Policy aims to prevent incentives for excessive risk taking and ensures that the payment of variable remuneration is aligned with the long-term interests of KBC Group (e.g. Variable remuneration should not induce risk-taking in excess of the risk appetite of the different entities of the KBC Group and where relevant, be based on risk- and liquidity-adjusted profit, not on gross revenues. Additionally, ex ante and ex post risk adjustments to variable remuneration are possible in order to guarantee the sustainability strategy).

Warning: Past performance is not a reliable guide to future performance
Warning: The value of your investments may go down as well as up
Warning: If you invest in these funds you may lose some or all of the money you invest
Warning: These funds may be affected by changes in currency exchange rates

KBC Insurance NV trading as KBC Life and Pensions is authorised by the National Bank of Belgium in Belgium and is regulated by the Central Bank of Ireland for conduct of business rules.

KBC Bank Ireland Plc is tied to KBC Life and Pensions for the distribution of PRSA products to personal customers in the Republic of Ireland. This means that KBC Life and Pensions products are distributed through the nationwide KBC Hub network, by telephone as well as through KBC’s mobile banking platform.

KBC Life and Pensions is a registered business name of KBC Insurance NV in Ireland. Branch registration number 909131.

Registered Office: Sandwith Street, Dublin 2, Ireland