Figure 1
Members of private sector employer-sponsored pension schemes by scheme size (2003–2013). Source: The Pensions Board (2004– 2011, 2012b, 2014).
Figure 2
Comparison of numbers of persons engaged in small active enterprises and membership in small pension schemes (2007–2012). Source: The Pensions Board (2008–2011, 2012b) and Ireland. Central Statistics Office (2014).
Figure 3
Employer-designated PRSA schemes (2003–2013). Source: The Pensions Board (2004–2011, 2012b, 2014). PRSA = Personal Retirement Savings Account.
Figure 4
A model of the bounded rationality decision process applied to a small business owner’s PRSA decision. PRSA = Personal Retirement Savings Account.
Table 1
Information about PRSAs accessed from pension provider websites
| Information | Aviva | Friends | Irish | New Ireland | Zurich |
|---|---|---|---|---|---|
| First | Life | ||||
| Employer-sponsored (or group) PRSA information | x | x | x | ||
| PRSA download brochure for employers | x | ||||
| PRSA download brochure for individuals | X | ||||
| Fund guides download brochure with information about PRSAs | x | x |
[i] PRSA = Personal Retirement Savings Account.
Table 2
Investment funds classified using ESMA risk ratings
| Risk | Risk | Volatility band (%) | Aviva | Irish | New | Zurich | Total |
|---|---|---|---|---|---|---|---|
| rating | classification | Life | Ireland | ||||
| 1 | Very low | 0.0–0.5 | 1 | 1 | 1 | 1 | 4 |
| 2 | Low | 0.5–2.0 | 0 | 2 | 0 | 0 | 2 |
| 3 | Low to medium | 2.0–5.0 | 1 | 4 | 0 | 0 | 5 |
| 4 | Medium | 5.0–10 | 2 (one rated 4–5) | 5 | 2 | 3 | 12 |
| 5 | Medium to high | 10.0–15.0 | 5 | 4 | 5 | 5 | 19 |
| 6 | High | 15–25 | 1 | 5 | 2 | 5 | 13 |
| 7 | Very high | 25 + | 0 | 1 | 0 | 0 | 1 |
| Not classified | 6 | 0 | 2 | 0 | 8 |
[i] Source: Aviva (2014), Irish Life (2014), New Ireland (2014a) and Zurich (2014). ESMA = European Securities and Markets Authority.