Irish Life PRSAs The following are details of Irish Life's Standard PRSA product. Irish Life also market a Non-Standard PRSA. Charges 5% of each contribution, and 1% of the fund annually. Irish Life currently do not pay commission on contributions below €150.00 per month, so if you wish to contribute less than this to an Irish Life product, we will charge you a fee. Please ask for details. Fund Choices Consensus Fund - The Consensus Fund is a passively managed investment fund. It aims to track the average performance of Irish fund managers.  The Consensus Fund is the most popular pension fund in Ireland, with over €2 billion under management.    Cash Fund - A low-risk, low-return fund largely invested in cash instruments. Pension Protection Fund - The Pension Protection Fund mainly invests in government-backed bonds.  Although the value of this fund can rise and fall, it tracks investment rates.  So the value of the fund should tend to rise if pensions become more expensive. Default Investment Strategy For those not wishing to choose their own funds, the Default Investment Strategy is to invest in the Consensus Fund until five years before retirement, then gradually switch into a combination of the Pension Protection Fund (75%) and Cash (25%) over the last five years.    What Do I Do Next? If you want further information or want to open a PRSA, click here.