Remuneration

How BDS Financial is paid for the business we arrange.

This page sets out the commission and other payments BDS Financial receives from product producers when we arrange business for you. It is the summary referred to in our Terms of Business. If you would like any of it explained, please call us.

What the headings mean

Initial
Commission the provider pays us when your plan starts.
Clawback
The period during which the provider can take back some or all of the initial commission if the plan is cancelled or stopped early.
Renewal / flat
Ongoing commission paid to us on regular contributions.
Trail
Ongoing commission paid to us each year (p.a.) while your plan stays in place, as a percentage of its value.
N/A or a dash
No figure applies for that provider or product.
Product abbreviations
RMT is a Retail Master Trust. PPP is a Personal Pension Plan. PRSA is a Personal Retirement Savings Account. PRB is a Personal Retirement Bond. ARF is an Approved Retirement Fund.

Single contribution products

Pensions: RMT (Retail Master Trust) and PPP (Personal Pension Plan)

Single contribution products: Pensions: RMT (Retail Master Trust) and PPP (Personal Pension Plan)
Provider Initial: RMT Initial: PPP Clawback: RMT Clawback: PPP Trail: RMT Trail: PPP
Aviva 5%5%4 Years4 Years1% p.a.1% p.a.
New Ireland 5%5%5 Years5 Years1% p.a.1% p.a.
Royal London N/AN/AN/AN/AN/AN/A
Standard Life 4%4%5 Years5 Years1% p.a.1% p.a.
Zurich Life 5%5%5 Years5 Years0.9% p.a.0.9% p.a.
Irish Life 5%5%N/AN/A0.5% p.a.0.5% p.a.

PRSA and PRB

Single contribution products: PRSA and PRB
Provider Initial: PRSA Initial: PRB Clawback: PRSA Clawback: PRB Trail: PRSA Trail: PRB
Aviva 5%5%5 Years5 Years0.5% p.a.1% p.a.
New Ireland 10%5%5 Years5 Years0.5% p.a.1% p.a.
Royal London 6%5%5 Years3 Years1% p.a.1% p.a.
Standard Life 5%4%5 Years5 Years0.75% p.a.1% p.a.
Zurich Life 5.5%5%5 Years5 Years0.5% p.a.0.5% p.a.
Irish Life 3%5%5 Years5 Years0.5% p.a.0.75% p.a.

ARF

Single contribution products: ARF
Provider Initial commission Clawback period Trail commission
Aviva 5%N/A1% p.a.
New Ireland 5%5 Years1% p.a.
Royal London 5%3 Years1% p.a.
Standard Life 4%5 Years1% p.a.
Zurich Life 5%5 Years0.5% p.a.
Irish Life 5%5 Years0.75% p.a.

Annuity

Single contribution products: Annuity
Provider Initial commission Clawback period Trail commission
Aviva 3%N/AN/A
New Ireland 3%N/AN/A
Royal London N/AN/AN/A
Standard Life 2%N/AN/A
Zurich Life 3%N/AN/A
Irish Life 3%N/AN/A

Investment bond

Single contribution products: Investment bond
Provider Initial commission Clawback period Trail commission
Aviva 4%N/A0.75% p.a.
BCP 2.5%N/AN/A
Broker Solutions 2.5%N/AN/A
Cantor Fitzgerald Ireland Ltd. 2.5%N/AN/A
Greenman Investments 2.5%N/A0.5% p.a.
New Ireland 4%3 Years1% p.a.
Standard Life 4%3 Years1% p.a.
Zurich Life 5%3 Years0.5% p.a.
Irish Life 3.5%3 Years0.5% p.a.

Regular contribution products

Pensions: RMT (Retail Master Trust) and PPP (Personal Pension Plan)

Regular contribution products: Pensions: RMT (Retail Master Trust) and PPP (Personal Pension Plan)
Provider Initial: RMT Initial: PPP Clawback: RMT Clawback: PPP Renewal / flat: RMT Renewal / flat: PPP Trail: RMT Trail: PPP
Aviva 20%20%4 Years4 Years4% p.a.4% p.a.1% p.a.1% p.a.
New Ireland 20%20%5 Years5 Years5% p.a.5% p.a.1% p.a.1% p.a.
Royal London N/AN/AN/AN/AN/AN/AN/AN/A
Standard Life 25%10%5 Years5 Years5% p.a.2% p.a.1% p.a.1% p.a.
Zurich Life 22.5%22.5%5 Years5 Years5% p.a.2% p.a.1% p.a.1% p.a.
Irish Life 10%10%5 Years5 Years5% p.a.5% p.a.0.5% p.a.0.5% p.a.

PRSA and PRB

Regular contribution products: PRSA and PRB
Provider Initial: PRSA Initial: PRB Clawback: PRSA Clawback: PRB Renewal / flat: PRSA Renewal / flat: PRB Trail: PRSA Trail: PRB
Aviva 20%—5 Years—2% p.a.2% p.a.0.75% p.a.0.5% p.a.
New Ireland 20%20%N/A—5% p.a.2% p.a.0.5% p.a.0.5% p.a.
Royal London 22.5%N/A——5% p.a.2% p.a.1% p.a.0.5% p.a.
Standard Life 20%20%5 Years5 YearsN/A0.75% p.a.0.5% p.a.—
Zurich Life 20%—4 Years—5% p.a.2% p.a.0.5% p.a.0.5% p.a.
Irish Life 18%20%5 Years5 Years5% p.a.2% p.a.0.5% p.a.0.5% p.a.

Savings

Regular contribution products: Savings
Provider Initial: Product A Initial: Product B Clawback: A Clawback: B Renewal / flat: A Renewal / flat: B Trail: A Trail: B
Aviva 15%—4 Years—2% p.a.2% p.a.0.5% p.a.0.5% p.a.
New Ireland 15%20%5 Years5 YearsN/A0.5% p.a.0.5% p.a.—
Royal London N/AN/AN/AN/AN/AN/AN/AN/A
Standard Life 15%20%5 Years5 YearsN/A1% p.a.0.5% p.a.—
Zurich Life 15%—4 Years—1% p.a.2% p.a.0.5% p.a.0.5% p.a.
Irish Life 22%20%7 Years5 YearsN/A0.5% p.a.0.5% p.a.—

Protection

Commission on protection is shown as a percentage by policy year. Year 9+ applies from year 9 onwards.

Individual protection

Protection: Individual protection
Provider Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9+ Clawback period
Aviva 120%20%20%20%20%3%3%3%3%1 Year
New Ireland 180%0%0%0%0%3%3%3%3%5 Years
Royal London 180%0%0%0%0%3%3%3%3%5 Years
Zurich Life 100%20%20%20%20%3%3%3%3%5 Years
Irish Life 160%0%0%0%20%3%3%3%3%4 Years

Income protection

Protection: Income protection
Provider Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9+ Clawback period
Aviva 200%0%0%0%3%3%3%3%3%4 Years
New Ireland 130%3%3%3%3%3%3%3%3%16 Months
Royal London 200%0%0%0%3%3%3%3%3%5 Years
Zurich Life 200%0%0%0%3%3%3%3%3%4 Years
Irish Life 120%0%30%0%0%30%3%3%3%1 Year

Group protection

Protection: Group protection
Provider Death in service Clawback period Permanent health insurance Clawback period
Aviva 6%1 Year12.5%1 Year
New Ireland 6%N/A12.5%N/A
Royal London N/AN/AN/AN/A
Standard Life N/AN/AN/AN/A
Zurich Life 6%N/A12.5%N/A
Irish Life 6%N/A12.5%N/A

David Sheahan Insurance & Investments Ltd t/a BDS Financial is regulated by the Central Bank of Ireland. Reg. no. 115813.