The Pensions Board today announced its approval of 41 PRSA products. The aim of PRSAs is to help raise the level of pension coverage in Ireland.
PRSAs will combine flexibility and simplicity with a high level of protection for the individual and will enable those without adequate cover to plan for their future retirement provision with confidence, the Pensions Board said.
The products, which have been approved in conjunction with the Revenue Commissioners, cover 16 Standard and 25 Non-Standard PRSAs.
The providers with approved PRSA products are: Ark Life Assurance, Canada Life Assurance, Eagle Star Life Assurance, Hibernian Life & Pensions, Irish Life Assurance and New Ireland Assurance.
The Pensions Board will be responsible for the regulation and supervision of PRSAs and will focus on ensuring consumer rights and interests are protected, in what is currently a challenging economic environment.
