Lifestyle PRSA - Let's keep things simple

The plan that has it all.

  • No need to make any investment decisions, we do that for you.
  • The MyAutoinvest Investment Strategy invests your money differently at different life stages by moving your money into lower risk investments as you get closer to retirement.
  • 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.

Tell me more about the KBC Lifestyle PRSA

How is my money invested?

Your money is invested to suit your life stage. 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 options. We call this ‘MyAutoinvest’.

Keep on track with your phone

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.

How do I make the most of my tax savings?

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.

What happens when I retire?

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?


 

Not a KBC customer yet? Let’s get you sorted

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

Let's talk

MyAutoinvest - one plan but not one size


We’ve designed our investment strategy around you and your chosen retirement age to make sure we make the right choices at the right time.
 
MyAutoinvest from KBC is intuitive, gradually changing how your savings are invested as you get closer to your retirement age.
 
We call this ‘de-risking’, or gradually reducing your exposure to riskier equities (that are potentially higher performing), as you move towards retirement.
 
‘De-risking’ accelerates once you are 20 years out from retirement. In the last 5 years, we move a portion of your pension savings to cash funds so that you’ll have 25% invested in KBC cash funds when you reach your retirement age.

Key features of MyAutoinvest

  • This is our Default Investment Strategy which means you can focus on just saving for your retirement while we make the investment decisions.
  • MyAutoinvest is personal to you - we tailor our lifestyle investment strategy specific to your exact chosen retirement date.
  • We don’t believe in a one-size-fits-all approach which is why we challenge the market standard of de-risking solely by age.
  • We believe a 40 year old wishing to retire at 60, shouldn’t be invested the same as a 40 year old wishing to retire at 75, as this doesn’t prioritise you – the customer.
  • We protect you by moving your investment from equities to bonds and cash each month as you move towards your chosen retirement age.
  • We rebalance your fund every month to ensure you’re correctly invested as per your term to retirement.

How are my contributions invested?

Where do my contributions go?
How we allocate your contributions across our underlying funds is driven by how long you have to go until your chosen retirement date.
 
How many units do I buy?
How many units we buy on your behalf depends on how much you’re contributing and the cost of those units.
 
How is my fund valued?
The value at any point in time is equal to the total number of units you have in each underlying fund, multiplied by each unit price on that date. The value can go up and down over time.
 
What are the underlying funds that make up MyAutoinvest?  
  1. MyAutoinvest equity funds:
  • Plato Institutional Index Fund World
  • Plato Institutional Index Fund Emerging Market 
  1. MyAutoinvest bond funds:
  • KBC Institutional Fund Euro Bonds
  • KBC Institutional Fund Euro Corporate Bonds 
  1. MyAutoinvest cash funds:
  • KBC Participation SRI Cash Plus
  • KBC Multi Interest Cash 5 Month Duration
  • KBC Multi Interest SRI Cash 3 Month Duration
  • KBC Multi Interest SRI Cash 4 Month Duration

Tell me about the charges

The overall ongoing charge, or fund management fee, is 0.9% of the value of your PRSA per year. It’s calculated on a daily basis and it’s reflected in your fund value.
 
The individual sub funds that make up MyAutoinvest have their own charges, but these and administration charges are already included in the 0.9%.
 
There’s also a contribution charge of 2.5% on each contribution made. However, the good news is that this doesn’t apply to pension transfers into your KBC Lifestyle PRSA.

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.

Check out our Pensions 101 guide for the ultimate crash course! Then have a look at our Pensions Journey Roadmap and our Help Hub for useful resources like videos and blogs.
 

Learn more
 

Table of fund pricing: 

Fund Name: Fund Price at 21/10/2020: 1 month
performance at 21/10/2020:
3 month performance at 21/10/2020: 6 month performance at 21/10/2020: YTD performance at 21/10/2020:
MyAutoinvest equity funds €1,056.34 2.79% 1.64% 15.39% -2.90%
MyAutoinvest bond funds €996.85 0.51% 1.64% 4.72% 1.56%
MyAutoinvest cash funds 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.

Important Information


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.
 

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