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Lifestyle PRSA

Let's keep things simple

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Lifestyle PRSA Highlights

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

  • 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’.
  • 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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Log into your app and go to 'Discover more'


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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.

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.

Intuitive

MyAutoinvest from KBC is intuitive, gradually changing how your savings are invested as you get closer to your retirement age.

De-risking

We call this ‘de-risking’, or gradually reducing your exposure to riskier equities (that are potentially higher performing), as you move towards retirement.

Timing

‘De-risking’ accelerates 20 years from retirement. In the last 5, we move a portion of your pension to cash funds so that 25% is nvested in KBC cash funds when you reach retirement age.

  • 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.
  • 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? 
     
    MyAutoinvest equity funds:

    Plato Institutional Index Fund World
    Plato Institutional Index Fund Emerging Market 

    MyAutoinvest bond funds:

    KBC Institutional Fund Euro Bonds
    KBC Institutional Fund Euro Corporate Bonds 

    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
     
  • 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

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.

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