tag:blogger.com,1999:blog-9992354590575543322024-02-20T18:43:33.337+00:00Pensions & InvestmentsGerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.comBlogger161125tag:blogger.com,1999:blog-999235459057554332.post-45581603748116516352016-11-30T14:22:00.000+00:002016-11-30T14:27:00.371+00:00PRSA AVCs for Public Service Employees <div data-canvas-width="293.66925594178167" style="font-size: 16.2446px; left: 103.843px; top: 555.751px; transform: scaleX(1.04509);">
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">PRSA AVCs are Additional Voluntary Contributions made through a Personal Retirement Savings Account. </span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">PRSA AVCs are a convenient method of funding for additional retirement benefits for the following reasons.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;"> Give you control over your choice of funds and provider</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;"> Valuable tax relief is available</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;"> Potential for a larger tax-free lump sum at retirement</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;"> Access to an ARF/AMRF at retirement</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;"> PRSA AVCs are easy to understand and easy to set up</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;"> PRSA AVCs could help you retire early</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">You can make PRSA AVCs if the benefits that you will receive at retirement from your superannuation scheme and any benefits retained from previous employments, are projected to be lower than the maximum allowed by Revenue.</span><br />
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">The following are examples of where there will be scope for providing additional benefits:</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">If you do not expect to have full service, you could use PRSA AVCs to make up part or all of the difference between the maximum allowable tax-free lump sum and the tax-free lump sum based on shorter service.</span><br />
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">Likewise, you could use PRSA AVCs to bring your pension up to the maximum allowed by Revenue.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">If you have non-pensionable earnings (e.g. overtime) you could use PRSA AVCs to fund for a pension based on your total earnings.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">Class A PRSI contributors have their pension benefit reduced to take account of their eligibility to receive the contributory retirement pension (single rate). The shortfall between the resultant pension and the maximum allowable pension under Revenue rules can be made up by PRSA AVCs.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">The amount of spouse’s pension that can be provided is 100% of the maximum member’s pension. Your superannuation scheme provides a spouse’s pension of 50% of your pension.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">The Revenue maximum pension is 2/3rds of remuneration reduced by the pension equivalent of the lump sum. This maximum pension after lump sum could be as high as 60% of remuneration which leaves significant scope for PRSA AVCs in the public service, where the maximum pension is 50% of pensionable pay.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">PRSA AVCs, taken out for any of the reasons highlighted above, can be used to offset the effect of these reductions.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline;">PRSA AVC's are a tax efficient means of saving money.</span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline;">You can purchase a PRSA AVC with Zurich Life with no contribution charge (100% of your money is invested) and a 1% annual management charge through </span><a href="http://www.prsa.ie/" style="text-decoration: none;"><span style="background-color: transparent; color: #1155cc; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: underline; vertical-align: baseline;">www.prsa.ie</span></a><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline;"> </span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.666666666666666px; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline;">This service is on an ‘execution only’ basis. </span>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-12287009869191611212016-03-04T11:04:00.001+00:002016-03-04T11:04:55.584+00:00The Destruction of the Irish Savings Market<br />
The Irish Government campaign to discourage people from saving must come to an end. <br />
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Regular savers to unit linked (fund) investments have really been maltreated and hounded. Not happy with the Government 1% Levy (Tax) on every contribution to a long-term unit linked saving plan, the current Government Exit Tax on any growth on the funds is<b> 41%</b>. Think about that. It's HUGE.<br />
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You're trying to be prudent, saving for the future, taking a risk on your investment and you get hammered on the growth in value. It's mind-blowingly stupid and short-sighted for a Government to maintain an obscene high tax regime on long-term savings. Of course, Governments think in 5 year election cycles so having a plan that goes beyond that short term is a collective anathema.<br />
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You can currently get a 'safe' tax-free return of 25% over 10 years (this was 47.5% in 2010 when the bond was introduced) by lending money to the Government via the Solidarity Bond. To get an equivalent current return from a product with a higher 'risk' insured investment fund, the fund would have to grow by about 55%, when you take annual management charges and taxation into consideration. <br />
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If we roll the clock back over the last 10 years and look at the SuperCapp Fund with Zurich Life and the With-Profit Fund with Standard Life we can see how difficult it is to compete with a Government sponsored product.<br />
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The gross return on the Standard Life Fund over 10 years, to February 2016, is 33.07% - deduct tax @ 41% and you're left with 19.51% net. The person that sold you the product got paid, the fund manager got paid, the Government got paid, but you're left with a paltry return on investment.<br />
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The figures for the Zurich Life SuperCapp Fund are a healthier 47.54% gross and 28.05% net. <br />
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What needs to happen is that the Government need to get rid of the levy on these products and reduce the tax rate dramatically <u>OR</u> introduce a tax efficient scheme like the Individual Savings Accounts (ISAs) in the UK. These allow individuals to save/invest Stg. £15,240 per annum in a variety of <u><b>tax-free</b></u> products.<br />
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If this doesn't happen, regular savers will be lured back into investing in property again, as the alternatives are so unattractive.<br />
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Given the way the Government have raided pension funds in the past and the current prohibitive tax regime on savings, there would want to be some reassurances from them on keeping their mitts off any surprise attacks on savings in the future.<br />
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The best person to save for the rainy day is you. So any talk of the Government setting aside a 'rainy day fund' is just nonsense. They'll just blow it, in time. <br />
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Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-48150142933315759252014-02-26T12:42:00.001+00:002014-02-26T12:49:11.199+00:00Price Matching - Consumer Obfuscation<br />
You know when you ring your car/house insurance company and tell them that you have secured a cheaper quote, than their renewal, and they tell you that they will match the cheaper quote if you stay with them? Well, that's price matching and consumers are complicit in its growth as a way for insurers to gain and retain business.<br />
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It has slowly, but surely, made it way into the Life & Pension sector over the last number of years but regulators, consumer interest groups and advertising standards have ignored it. It's mainly in the term assurance market but is now standard practice, on annuities, for the largest insurer in the Country.<br />
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I have maintained that this practice inhibits competition and stifles innovation. It's the lazy mans way of pricing your product and not giving a toss about competing for business on product features.<br />
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If you're accepting business at a price lower than your book rate then you're effectively 'buying business'. I mean, why have 'rates' at all if you're just going to do it for the same price as your cheapest competitor? <br />
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Recently, Friends First held their hand up and admitted the following: <br />
<span style="background-color: white; color: #434343; font-family: Arial, Helvetica, sans-serif; font-size: 12px;"><br /></span>
<span style="background-color: white; color: #434343; font-family: Arial, Helvetica, sans-serif; font-size: 12px;">"We aim to do all we can to meet customers’ needs through offering high quality products at affordable premiums, ensuring transparent communication of charges and fees and providing unambiguous marketing literature. <b>As a consequence, we have removed ‘price matching’ from our protection policies to improve customer transparency while improving the cost of our premiums at the same time</b>. You will now notice price cuts are across level and decreasing term products."</span><br />
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<span style="background-color: white; color: #434343; font-family: Arial, Helvetica, sans-serif; font-size: 12px;"><br /></span>
<span style="font-family: inherit;"><span style="background-color: white; color: #434343;">They've caught the bull by the horns and effectively blown the 'competition' out of the water by "</span><span style="color: #434343;">doing all [they] can to meet customers’ needs </span><span style="color: #434343;">through <b><i>offering high quality products at affordable </i></b></span><span style="color: #434343;"><b><i>premiums</i></b>,<b><i> ensuring transparent communication of </i></b></span><span style="color: #434343;"><b><i>charges and fees</i></b>, <b><i>providing unambiguous marketing </i></b></span><span style="color: #434343;"><b><i>literature</i></b> and <b><i>rewarding them for long-term loyalty."</i></b></span></span><br />
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<span style="color: #434343;"><span style="font-family: inherit;">Answer that Caledonian Life, Aviva Life & Pension, Irish Life and New Ireland Assurance. <b>NB</b> : Zurich Life don't 'price pledge' and well done to them for not sinking that low.</span></span><br />
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Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-84715429778662268122013-10-31T16:41:00.000+00:002013-10-31T16:52:08.214+00:00In Praise of Hill Walking<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">(One of these days I’ll get back to blogging about Pensions & Investments) </span></div>
<b id="docs-internal-guid-1f338f96-0f62-0301-9c76-e47ff6df88cf" style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b><br />
<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">It probably started with a pointed comment from my daughter about being a “couch potato”. And possibly living in an area surrounded by three ranges of mountains. I had the boots. Bought a few years prior with the intention of ‘doing something’ with them, but never had. </span></div>
<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><b><i>15 Months Later</i></b></span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">I haven’t stopped walking since. I’m no sooner finished one walk than I’m planning the next. I’m fit; fitter than I’ve ever been. Why? What’s it all about?</span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The bug just bit me. The early walks were low level and I just kept cranking them up, to improve. I joined a club (I’m now in three) to get familiar with the open mountain by being led by more experienced walkers. Plus, if you’re hill walking by yourself you can’t really gauge if you’re any good at it, other than put yourself on the clock. I’m competitive, so that’s not much good. </span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b><br />
<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">You hear stories on the hills about so-and-so being a strong walker and about long distance walks with certain height-gains. If you wanted to improve as a walker you had to set your sights on these ‘Challenges’, the hill walkers personal achievement championships. So, I did a few of them and did okay. I even made up a few of my own.</span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Along the way, I’ve met some of the most wonderful people. People that don’t suffer from adhesive mattress syndrome, have no issue with atrocious weather conditions, don’t mind getting stuck in when their help is needed and willing to impart acquired knowledge to help you along the way.</span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">When you want to talk, you can talk. When you want to have some ‘me’ time, no one bothers you. It’s an unwritten rule, there are many. It’s different being out on the hills: for me it has a calming influence in a stress free environment. So many beautiful places on my doorstep that I’d never have seen but for the fortune of putting on a pair of boots. The place names, the local history, the wildlife and vegetation; all discovered and learnt about by accident.</span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">It’s not all serene though. The craic, banter, slagging that goes on is mighty. There are those that would say that telling someone, who is struggling on a walk, that “We’re about halfway” when they ask “Is there far more to go?” might be mental torture, especially when 90% of the walk is done. But, it’s part of the ‘rise’ and you have to have a sense of humour at this game. Another favourite of a fellow walker is feigning snoring while directly behind someone that is struggling on the climbs. We laugh, and the misfortunate that’s at the receiving end does too; in time. </span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span></div>
<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">I struggled to find my pace for a long time. I suppose we do this in life’s pace also. Going off too fast and then feeling the pressure on the climbs. The food was important, the amount of water was important, the boots, the gear, the poles, what was in the rucksack (and what wasn’t); it all mattered in the quest for improvement. But it didn’t matter, in a way, because you’d get it right next time. There’s no All Ireland or Olympics to aim for. You walk and learn. </span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">I’ve learned how to read a map and use a compass. I have an app on my phone that can tell me where I am, if I go astray. If you’re fit enough you’ll stay calm. This gives me the confidence to walk alone on the three local ranges, because if the mood hits I have to go out. </span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The walks have now progressed to be of a more strenuous nature. As another walker said at the weekend “We’re in training. But for what?” We don’t know, but we enjoy it so much there doesn’t have to be a target in sight. </span></div>
<b style="font-weight: normal;"><br /><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">This stuff just makes us happy!!</span></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;"></span>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-79219162779340434492013-07-10T11:12:00.001+01:002014-01-14T13:11:18.840+00:00The Fei Sheehy Challenge<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Fei is my daughter. She died last year. I marvelled at her spirit, courage, dignity, toughness and positivity of attitude in grappling with the cancer cards that she had been dealt. She is my hero.</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b id="docs-internal-guid-2faa449e-c3c5-4ea4-dd27-7d0bf0482760" style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Two months after her death, I decided to end a 30 year period of physical inactivity by taking to the local hills and mountains. I had been looking up at Galtymore and Slievenamon all my life and had never set foot on them. </span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The initial ‘getting to know you’ walks/hikes were tough but there was a certain therapeutic attraction in persevering and Fei wouldn’t have given up. As a spectator, she would be willing me on and rewarding me with high-fives and hugs. As a result of the work effort put in, I got kinda fit doing something that I’m now addicted to. </span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The weekend of 28th, 29th & 30th June saw the birth of, what I am going to call, ‘The Fei Sheehy Challenge’. I had considered naming the challenge of ascending the four local peaks of Fauscoum, Slievenamon, Galtymore and Knockmealdown, in one day, in her memory but my walking buddies suggested something tougher, “a proper challenge”.</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The challenge was to ‘Cross’ the length of the Comeragh, Knockmealdown and Galty Mountains over three consecutive days. It’s the cumulative equivalent of walking 93.5km, on rough terrain, while taking in the ascent of Carrauntoohil four times, from sea level, along the way.</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">So, at 15:56 on Sunday the 30th, I finished the final leg. </span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">What I’d now like to do is organise this challenge as an event to raise money for (to be decided) charitable/volunteer organisations. I’ll be doing the three full walks over the three days again, next year.</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">I don’t expect that there would be a huge take up from other walkers on the full 3 day challenge, so what I’d propose to do is break it down to suit the ability of each hill walker. In this way they could join and exit the main walk at predetermined points on any/all of the three days. </span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Comments and suggestions welcome. I'll need a lot of help to put this in place.</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
<b style="font-weight: normal;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"></span></b>
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<div dir="ltr" style="line-height: 1.15; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">If any sponsors would like to get involved, please let me know.</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span>
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><b>UPDATE - 14/01/2014</b></span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><b><br /></b></span>
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><b>The event will be happening on the 1st, 2nd and 3rd of August. The website is <a href="http://www.feisheehychallenge.net/" target="_blank">here</a></b></span><br />
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;"></span>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-15250111718943920472013-05-10T11:54:00.002+01:002013-05-10T11:54:53.424+01:00DIY Challenge Walks <b id="docs-internal-guid-16ade50c-8e02-6e48-98bb-96d011ccf3b7" style="font-weight: normal;"></b><br />
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<b id="docs-internal-guid-16ade50c-8e02-6e48-98bb-96d011ccf3b7" style="font-weight: normal;"><span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;"><br /></span></b></div>
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<b id="docs-internal-guid-16ade50c-8e02-6e48-98bb-96d011ccf3b7" style="font-weight: normal;"><span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">There are no shortage of Challenge Walks in the Country. There’s something for everyone in the walking calendar, depending on your level of fitness and ability.</span></b></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">As a relative newcomer to the hill walking game it’s hard to decide on which ones to do, especially when your mountain skills knowledge is pretty basic. You tend to rely on others to walk with or, in some cases, a good clear day. </span></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">As I live in the ‘middle’ of the Galtee, Knockmealdown and Comeragh ranges I’m more familiar with these mountains, as club walks tend to focus on these three. I’m cool with that as there’s plenty of walking on all of them, you can make the route as easy or hard as you like. </span></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">What I’m trying to do is create challenge walks out of the ranges that are close to me, leaving aside the ones that are already on the Challenge calendar. You can then gauge whether the ‘hard’ ones are within your fitness/ability and how long they should take you. </span></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">In a previous post I wrote about doing the 4 local peaks<a href="http://prsas.blogspot.ie/2013/03/fauscoum-slievenamon-galtymore.html" target="_blank"> (Fauscoum, Slievenamon, Galtymore & Knockmealdown)</a> in the one day. On the 27th of April it was the turn of the<a href="http://www.everytrail.com/view_trip.php?trip_id=1588045" target="_blank"> ‘Glencush Horseshoe’</a> (in reverse), with a twist. </span></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">The distance for this walk is 14 kms and the height gain is 1,100m. The route starts at Clydagh Bridge and takes in Knocknanuss, <a href="http://mountainviews.ie/summit/64/" target="_blank">Slievecushnabinnia</a>, <a href="http://mountainviews.ie/summit/14/" target="_blank">Galtymore</a>, <a href="http://mountainviews.ie/summit/41/" target="_blank">Galtybeg</a> and back to Clydagh over <a href="http://mountainviews.ie/summit/215/" target="_blank">Cush</a>. The challenge for me was to do the route twice. </span></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">It felt a bit odd walking those mountains twice in the one day but there was no rain, the wind wasn’t too bad and the mist had lifted the second time round so the views were better. How bad?</span></div>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">If any reader has DIY challenge route suggestion or has done any themselves in and around these three mountain ranges, please post below.</span></div>
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</b>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-77397398703581701252013-03-11T11:17:00.001+00:002013-03-13T09:28:45.529+00:00Pico del Inglés - Taganana, Vilaflor - Guarjara, and Teide <br />
Another three days of excellent walking in Tenerife, last week. This time I had the pleasure of the company of two strong walkers from Peaks Mountaineering Club in Clonmel. <br />
<br />
<b>Tuesday </b><br />
<br />
<b><i>La Quebrada - Pico del Inglés - Taborno - Afur - Taganana (via Casa Forestal)</i></b><br />
<br />
Distance - 21.5kms<br />
Climbing - 2,242m<br />
Duration - 6 hours 49 minutes<br />
Moving time - 5 hours 37 minutes. <br />
<br />
We got a local bus from Santa Cruz towards Valle Seco and the turning point for the bus, at the end of the route, is where there is a sign for the walk start at La Quebrada. <br />
<br />
A beautiful walk on well marked footpaths. It was overcast and a bit windy but there was plenty of cover from the vegetation. As a fellow walker described it "It's like walking in the Botanical Gardens for five and a half hours."<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtVQcYs2z6gGdhdZcu-cC93RPWrrM7x1yZPTHqmq5BGcK0x76gfvv-WqbxkWWJJm9Jdy1Fr_OCWc9d6GbKurnruSKw-bIOLewj3lqxo91nO3aGxfS5sqKHXnEZXPtMfFP6y4SZSHKGSwE/s1600/Aqueduct+bridge+near+La+Quebrada.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtVQcYs2z6gGdhdZcu-cC93RPWrrM7x1yZPTHqmq5BGcK0x76gfvv-WqbxkWWJJm9Jdy1Fr_OCWc9d6GbKurnruSKw-bIOLewj3lqxo91nO3aGxfS5sqKHXnEZXPtMfFP6y4SZSHKGSwE/s200/Aqueduct+bridge+near+La+Quebrada.jpg" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Aqueduct bridge near La Quebrada </td></tr>
</tbody></table>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpcIM1CFjWvUS4XaFEyd0taL6RY3IKNj5uTMIUQ0i7gvLJuDdZr0wuNvPQrYDS0nIvza6i4qN5oVbcs8nKLeCMKfz6G9hxrfFJAHKS_G-t6FZVxOQ-nEBxZ0-cMpYXps5En6U2c6QrPYI/s1600/Afur.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpcIM1CFjWvUS4XaFEyd0taL6RY3IKNj5uTMIUQ0i7gvLJuDdZr0wuNvPQrYDS0nIvza6i4qN5oVbcs8nKLeCMKfz6G9hxrfFJAHKS_G-t6FZVxOQ-nEBxZ0-cMpYXps5En6U2c6QrPYI/s200/Afur.jpg" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Afur</td></tr>
</tbody></table>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgw6HghEiY-YmZddUVekeKoQVTqdhKejkmy7ZVsC5Z4hw_vEHPMTYu_whMAc1QoVimzQFrGrCzfZCcTxzAk3kq80zuPc_LSSGP_yLwzh31q9gx16Dmg08e2kiZKRUgFF7AxxQ84b-2ucOs/s1600/Taganana.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgw6HghEiY-YmZddUVekeKoQVTqdhKejkmy7ZVsC5Z4hw_vEHPMTYu_whMAc1QoVimzQFrGrCzfZCcTxzAk3kq80zuPc_LSSGP_yLwzh31q9gx16Dmg08e2kiZKRUgFF7AxxQ84b-2ucOs/s200/Taganana.jpg" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Taganana</td></tr>
</tbody></table>
<br />
<b>Wednesday </b><br />
<br />
<b><i>Vilaflor - Degollada de Guarjara - Summit of Guarjara - Degollada de Ucanca - Valle de Ucanca - Vilaflor </i></b><br />
<br />
Distance - 23.4kms<br />
Climbing - 1,833m<br />
Duration - 7 hours 55 minutes<br />
Moving time - 6 hours 10 minutes. <br />
<br />
The best day we had weather-wise. A good number of walks start/finish in Vilaflor at 1,465m and the paths and scenery are excellent. The summit of Guarjara stands at 2,715m and has breathtaking views of Teide National Park and surrounding peaks. The descent from Guarjara to Degollada de Ucanca was tricky enough but other than that a good safe hike. <br />
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5dATEs-1Gyef7-fml8dKtqhGXM5i97N-evXKy-BciOYVetlssGBIfjpuDAKfX8CE6d68PjDWDCfxlBJl3-e2bCnHFd5EECSJO_qm-Aadxz3c5_qYCqdGGXnxNw7elMwQya3pRauyT8JA/s1600/En+route+to+Guajara.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5dATEs-1Gyef7-fml8dKtqhGXM5i97N-evXKy-BciOYVetlssGBIfjpuDAKfX8CE6d68PjDWDCfxlBJl3-e2bCnHFd5EECSJO_qm-Aadxz3c5_qYCqdGGXnxNw7elMwQya3pRauyT8JA/s200/En+route+to+Guajara.jpg" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">En route to Guarjara</td></tr>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7neR3HyJ_RY8m0rjj4uaLdFXsDEzeMMMUPFgtwRVPjIiYKBfJxGzHPsC3hRVREr27BNeJ2JF4oTYLQDOwZu6sEbxDULwCigBm4-N0fXr5mDPxumv3I5UIcHe4cZ7iPsmee-JPMUwbTmc/s1600/Arenas+Negras.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7neR3HyJ_RY8m0rjj4uaLdFXsDEzeMMMUPFgtwRVPjIiYKBfJxGzHPsC3hRVREr27BNeJ2JF4oTYLQDOwZu6sEbxDULwCigBm4-N0fXr5mDPxumv3I5UIcHe4cZ7iPsmee-JPMUwbTmc/s200/Arenas+Negras.jpg" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Arenas Negras</td></tr>
</tbody></table>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmg0j2c0dNvV2a1e2_Pf0bMYDdYRG6o0ODhzCNn2QxVI2hB5B74CEfhxSM2UifNxrh6NltwnY83vNKBunCKSL3J-r1rUlf4Q7g8uxGrd6FoqnxO-Tq3pYnT5E8AY50AJtlk0Dk5mwq6ZU/s1600/Teide,+Montana+Blanca,+Pico+Viejo+(from+Degollada+de+Guarjara.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmg0j2c0dNvV2a1e2_Pf0bMYDdYRG6o0ODhzCNn2QxVI2hB5B74CEfhxSM2UifNxrh6NltwnY83vNKBunCKSL3J-r1rUlf4Q7g8uxGrd6FoqnxO-Tq3pYnT5E8AY50AJtlk0Dk5mwq6ZU/s200/Teide,+Montana+Blanca,+Pico+Viejo+(from+Degollada+de+Guarjara.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Teide, Montana Blanca, Pico Viejo (from Degollada de Guarjara)</td></tr>
</tbody></table>
<br />
<b>Friday </b><br />
<br />
<b><i>Montaña Blanca car park - Pico del Teide - Los Charcos - Torre Blanco - Parador. [Used Senderos 7, 10, 12, 9, 23 (short scramble from Sendero 3 over Roques de García to pick up Sendero 23 again)]</i></b><br />
<br />
Distance - 19.8kms<br />
Climbing - 1,704m<br />
Duration - 9 hours 14 minutes<br />
Moving time - 6 hours 32 minutes. <br />
<br />
By far the most difficult walk/climb I have encountered to date. Our average speed was a kilometre per hour slower than normal. The sole reason for this was the snow/ice when we got above 3,200m. Crampons would have helped. <br />
<br />
The Teleferico Station was deserted and there was no need to show our permits and passports. I found the final 163m scramble to the summit difficult as I was virtually crawling. We met two other climbers on their descent and they were the last walkers we met until we got to the Sendero 23 side of Torre Blanco that evening.<br />
<br />
It was equally as difficult on the descent. I'd say that this is a handy enough walk/climb without the snow and ice. We'll just have to do it again another time. <br />
<br />
Even though it was difficult, it was the most enjoyable days walking to date. We all took a tumble and got bangs and bruises. We also learnt a painful lesson on snow blindness. You walk and learn. <br />
<br />
<div style="text-align: right;">
</div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZ8NQGtERxaCvW37-8ZEcIeZOp9gud9fNVowAlybMUoy0lwVvQGCBMTNxBbkGsjf2rcojf9_BfkDNsSYUF2bYA7LKn4I3wcf5ZJsgp23yvVdvFECiI_-yrrOYRcLUuIoEs4ml-YOebw2Q/s1600/Terrain+near+Refugio+Altavista.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZ8NQGtERxaCvW37-8ZEcIeZOp9gud9fNVowAlybMUoy0lwVvQGCBMTNxBbkGsjf2rcojf9_BfkDNsSYUF2bYA7LKn4I3wcf5ZJsgp23yvVdvFECiI_-yrrOYRcLUuIoEs4ml-YOebw2Q/s200/Terrain+near+Refugio+Altavista.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Terrain near Refugio Altavista</td></tr>
</tbody></table>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjAOQzRWaUWCV_vze8W0gJsaqvEYxImW1TiehmRDpfSXIjW4RwEeyT0ZoVTt2n8jLhtkDn0cyNAPsP8j2nFHEtUBorQilFIm6iNoLjz5Rph6CWMduyUcD434Ur_iyUeYMsMJUcNSnt5Stg/s1600/Teide+Summit.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjAOQzRWaUWCV_vze8W0gJsaqvEYxImW1TiehmRDpfSXIjW4RwEeyT0ZoVTt2n8jLhtkDn0cyNAPsP8j2nFHEtUBorQilFIm6iNoLjz5Rph6CWMduyUcD434Ur_iyUeYMsMJUcNSnt5Stg/s200/Teide+Summit.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Teide Summit</td></tr>
</tbody></table>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjEFx76pmGyqT3hqYZgJaAdChTa4VhENfLrPPY2ZziB0t9Zni8MQIwa8lUMJBYd8sxU4UfvMXWjAKiDrxm_XpL0HuE9lWi4YxQf2eIftikc8a0RUEkv_FxiEov3GO6fjQywgNeg-liKE34/s1600/Pico+Viejo+crater.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjEFx76pmGyqT3hqYZgJaAdChTa4VhENfLrPPY2ZziB0t9Zni8MQIwa8lUMJBYd8sxU4UfvMXWjAKiDrxm_XpL0HuE9lWi4YxQf2eIftikc8a0RUEkv_FxiEov3GO6fjQywgNeg-liKE34/s200/Pico+Viejo+crater.jpg" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Pico Viejo Crater</td></tr>
</tbody></table>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8ZNOuvaEELQzh5h_7Jg4HAfXbehLMEDoGJCilJ-PDsN_pPIBWc6SI4Xtga_bIA8HYyf__OA0abPfEwAwwextD8qnGSOa0D6fllEQQkJo-J_ePmseWbvV8P-ygmEZTN8KSU63qXG-oIgw/s1600/Rough+Sendero+Guide.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8ZNOuvaEELQzh5h_7Jg4HAfXbehLMEDoGJCilJ-PDsN_pPIBWc6SI4Xtga_bIA8HYyf__OA0abPfEwAwwextD8qnGSOa0D6fllEQQkJo-J_ePmseWbvV8P-ygmEZTN8KSU63qXG-oIgw/s200/Rough+Sendero+Guide.png" width="133" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">(Rough) Sendero Guide</td></tr>
</tbody></table>
<br />
PS: If you want to do a long walk on Teide the bus service isn't great, the last bus leaves at 16:00. They don't accept the Bono Via card on this route. Also, there are no taxis based in Parador so one would have to bone up from Vilaflor to bring you back down south.<br />
<br />
<br />Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com2tag:blogger.com,1999:blog-999235459057554332.post-86124604271995912042013-03-01T10:23:00.000+00:002013-03-13T11:44:29.089+00:00Fauscoum, Slievenamon, Galtymore & Knockmealdown <br />
I've been hill walking now for just over six months and recently had a notion that I'd like to try and climb these four peaks in the one day ie touch the Trig stones or Cairns on each. I wasn't sure about how long it would take and only mentioned it to my daughter. Her response was "You're crazy!!".<br />
<br />
I set off to do climb <a href="http://mountainviews.ie/summit/48/" target="_blank">Fauscoum</a> from Kilclooney Wood at 07:30 yesterday morning and was back at the car at 09:25. Headed over to <a href="http://mountainviews.ie/summit/95/" target="_blank">Slievenamon</a> and was walking at 10:00 and was back down at 11:15.<br />
<br />
I was on the Black Road at 12:15, after having a bite to eat, and made it back down to the car from <a href="http://mountainviews.ie/summit/14/" target="_blank">Galtymore</a> at 14:35. Left the car at The Vee at 15:00 to head up Sugarloaf via the Grubb monument for <a href="http://mountainviews.ie/summit/45/" target="_blank">Knockmealdown</a> and was back down at 17:40.<br />
<br />
I don't have a GPS so I'm not sure what distance or height gain was involved. Judging by the way I felt at the finish and a very rough guess from the map, I'd say it must have been about 2,200m ascent. The weather was great on the first three climbs but cold, windy and foggy on the Knockmealdowns.<br />
<br />
<b><i>Update 13th March 2013</i></b> - A club member informs me that the height gain on this challenge is 2,339m (approx) and distance is 28.5km.Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-22140965168617483652013-02-13T14:16:00.000+00:002013-02-13T14:16:23.648+00:00Conversion Option & Smoking<br />
In a previous post I reported that : With <strong style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;">Aviva/Hibernian Life</strong><span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;"> - <i>If you were a smoker when you took the original policy out but qualify as a non-smoker now, full underwriting (new proposal) is required to change the policy, during or at the end of the policy term. </i></span><br />
<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;"><i><br /></i></span>
<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;">I am currently dealing with a case where the person converting is now a non-smoker, for a good number of years, and wants to 'covert' the policy with Aviva.</span><br />
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<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;">I've questioned the logic of charging a non-smoker smoker-rates on conversion as it just doesn't make sense, to me, that a healthier person should be penalised i.e. Complete a full new proposal to avail of non-smoker rates or pay the rates of a smoker.</span><br />
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<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;">So, I asked for the original policy terms and conditions to establish that it was clear from outset.</span><br />
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<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;">This is the relevant page: (click to enlarge)</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF6jpnEJsuaHEreOmM7L1Aslra-5Fq6T8HfJklFZP5GYDAFy-XtxmXdrXCpA0K0w1tmlqDNn1QRuKeWlMdiac74S7EkMmjrY9tH-rSAtsCnN1BQhKITOTNUg5Fael9rajElAqggue5HVw/s1600/NU1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="186" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF6jpnEJsuaHEreOmM7L1Aslra-5Fq6T8HfJklFZP5GYDAFy-XtxmXdrXCpA0K0w1tmlqDNn1QRuKeWlMdiac74S7EkMmjrY9tH-rSAtsCnN1BQhKITOTNUg5Fael9rajElAqggue5HVw/s320/NU1.jpg" width="320" /></a></div>
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<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;">Frankly, I just don't see how they can make this interpretation. Is it one for the Ombudsman to adjudicate on? </span><br />
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<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;">Curiously, Aviva's current policy conditions state:</span><br />
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<span style="background-color: white; color: #333333; font-family: 'Trebuchet MS', Verdana, Arial, sans-serif; font-size: 13px; line-height: 18.90625px;"><i>The new policy conditions will be issued in accordance with Aviva standard premium rates and policy conditions applicable at the time and the premium <u>will reflect the smoking habits</u> of the Life or Lives Insured advised by the application for the<u> new</u> policy</i></span>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-41954722414536922502013-01-17T15:23:00.000+00:002013-01-17T15:27:01.900+00:00Walks in West and North of Tenerife <div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJIJT-Ig8y_063ooJ-zRCxno3xVC_xnx60kxo6Ts52czjHYyiboHhjDDgy_cEhd2YP_mwmkz21f2yaNwnpVh0jKp9mpdzPPVgQ1k7zPnXsm6aDu0mmUmwkJiuzKDoBLWtIkXaLLOjy_18/s1600/January2013Tenerife+004.jpg" imageanchor="1" style="clear: right; float: right; font-weight: normal; margin-bottom: 1em; margin-left: 1em; text-align: center;"><br /></a><b id="internal-source-marker_0.46824990096502006"><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">I’ve been over and back to Tenerife for the last 10 years and I’ve never ventured far from the usual haunts. Last month I walked up through the ‘middle’ of the island and I went back last week to do some walking in the North and West of the island. </span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"></span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">It blew me away. The walks were well marked, the weather was great, the public transport was very good and the scenery was fantastic.</span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"></span><br /><span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;">Tuesday </span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"></span><br /><span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;"><i>Garachico to San José de Los Llanos to Erjos</i></span><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"> - This was an early start for me as I had to get 3 buses to reach Garachico. You’re climbing for 3/4 hours and there was a bit of frost on the ground near La Montañeta. I missed a marker near Arenas Negras and was a bit lost for 10 minutes but I traced my way back to the previous marker. The book walk was to San José de Los Llanos but I decided to walk to extra 4kms to Erjos as the Icod/Adeje bus passes through it. </span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"></span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">21kms </span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">Start 08:08 Finish 13:26</span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">1,400m Ascending</span><br /><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">400m Descending</span></b><br />
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<tr><td class="tr-caption" style="text-align: center;">Garachico</td></tr>
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<tr><td style="text-align: center;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJIJT-Ig8y_063ooJ-zRCxno3xVC_xnx60kxo6Ts52czjHYyiboHhjDDgy_cEhd2YP_mwmkz21f2yaNwnpVh0jKp9mpdzPPVgQ1k7zPnXsm6aDu0mmUmwkJiuzKDoBLWtIkXaLLOjy_18/s200/January2013Tenerife+004.jpg" style="margin-left: auto; margin-right: auto;" /></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Arenas Negras</td></tr>
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<span style="font-family: Arial; font-size: 15px; font-weight: bold; vertical-align: baseline; white-space: pre-wrap;">Wednesday</span><br />
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<span style="font-family: Arial; font-size: 15px; font-weight: bold; vertical-align: baseline; white-space: pre-wrap;"><i>Santiago del Teide to Erjos (via Montana del Estrecho) to Masca</i></span><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"> - Got the same bus from Adeje to Santiago as previous day and the first part of the walk is in a horseshoe out near Chinyero. Much of the walk from Erjos towards Las Portelas is on a forest track but when it opens up, boy!! is it worth it. Final destination was Masca, which *is* as beautiful as they say. </span><br />
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<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">30kms </span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">Start 08:37 Finish 14:35</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">975m Ascending</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">1,165m Descending </span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEircesYxiqNJFD3W0rLg2rFEWYJp5HtoVSHWNqWxoAngIY1NpOpcqljsWkJtrS_FC2h0DjHRdOQBAt2XzKg5UbZOy6zEdrAHL7Gn4bdQYlQ8szNskm0E7ydQcKFDzE3gFcFG6SPBn6-Tmw/s1600/January2013Tenerife+018.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEircesYxiqNJFD3W0rLg2rFEWYJp5HtoVSHWNqWxoAngIY1NpOpcqljsWkJtrS_FC2h0DjHRdOQBAt2XzKg5UbZOy6zEdrAHL7Gn4bdQYlQ8szNskm0E7ydQcKFDzE3gFcFG6SPBn6-Tmw/s200/January2013Tenerife+018.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Erjos</td></tr>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7Nnr1q2qJEjfz1DouzZlU2laPNVKEYhzkST-4OHKGpDpw7J8WNMpGDLe_IF87JycTm5WPRdCcoShbz9aiQyaoDNjmxpfwtKPyOYTJUYyhph24AvGLoQKOCasah-E6PNo5QRhUqfXAcAU/s1600/January2013Tenerife+029.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7Nnr1q2qJEjfz1DouzZlU2laPNVKEYhzkST-4OHKGpDpw7J8WNMpGDLe_IF87JycTm5WPRdCcoShbz9aiQyaoDNjmxpfwtKPyOYTJUYyhph24AvGLoQKOCasah-E6PNo5QRhUqfXAcAU/s200/January2013Tenerife+029.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">On Route to Masca</td></tr>
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<span style="font-family: Arial; font-size: 15px; font-weight: bold; white-space: pre-wrap;">Thursday</span><br />
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<span style="font-family: Arial; font-size: 15px; font-weight: bold; vertical-align: baseline; white-space: pre-wrap;"><i>Punta del Hidalgo (via El Batán) to Cruz del Carmen (via Chinamada) to Punta del Hidalgo</i></span><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"> - In the walk book I had, both of these walks started in Cruz del Carmen (highest point). Finding the start was tricky from the bus, and I was fortunate to see the marker. I found the 12km up via El Batán tough going in the heat but was glad I did both walks in a loop. It’s always worth it when you get to the ‘top’.</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"> </span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">22Kms </span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">Start 09:11 Finish 15:20</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">1,250m Ascending</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">1,250m Descending</span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEii8iAXlB2jieAz3d-zIhZtyKbtw0dIqVNTQ7ZeI1R8CYyoXkUuL6nF48El8xxXz16QpBpaUzGZE4K3w8oxhR3xEafTP6gfY6SvSBF4rN5Z762tr1d9ceAHeYcfP7qgn7T0MO_Ijp2gC9g/s1600/January2013Tenerife+050.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEii8iAXlB2jieAz3d-zIhZtyKbtw0dIqVNTQ7ZeI1R8CYyoXkUuL6nF48El8xxXz16QpBpaUzGZE4K3w8oxhR3xEafTP6gfY6SvSBF4rN5Z762tr1d9ceAHeYcfP7qgn7T0MO_Ijp2gC9g/s200/January2013Tenerife+050.jpg" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">El Batán</td></tr>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAJnuitTVhLzWerb_PxPgV2qGGtPG9lMFLtJQeKFOgaOdglVsnCfM22l9jPuJ9ETkx1eb5oB-70nNzwOMk30zfVg_YTG99FCvv_bobbcH9zdi7vXmBe0DWCPfn2XdW9LxgI4CVq5qzgjw/s1600/January2013Tenerife+061.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAJnuitTVhLzWerb_PxPgV2qGGtPG9lMFLtJQeKFOgaOdglVsnCfM22l9jPuJ9ETkx1eb5oB-70nNzwOMk30zfVg_YTG99FCvv_bobbcH9zdi7vXmBe0DWCPfn2XdW9LxgI4CVq5qzgjw/s200/January2013Tenerife+061.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">From Cruz del Carmen</td></tr>
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<span style="font-family: Arial;"><span style="font-size: 15px; white-space: pre-wrap;"><br /></span></span><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"></span>
<span style="font-family: Arial; font-size: 15px; font-weight: bold; vertical-align: baseline; white-space: pre-wrap;">Saturday</span><br />
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<span style="font-family: Arial; font-size: 15px; font-weight: bold; vertical-align: baseline; white-space: pre-wrap;"><i>Iguesta de San Andrés to Chamorga to Faro de Anaga to Almáciga</i></span><span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"> - This was the most eventful walk. I met lots of other walkers, probably because it was a Saturday and the natives were out in force. Also met three lads carrying bags of cement and other building/repair materials in relay along the coastal walk, not far from El Draguillo. I didn’t see any ‘warning’ sign at Faro de Anaga that the coastal path was officially closed but it seemed a tad overgrown and there was good bit of rock debris. Beautiful walk though.</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;"></span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">25Kms</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">Start 09:15 Finish 15:15</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">1,165m Ascending</span><br />
<span style="font-family: Arial; font-size: 15px; font-weight: normal; vertical-align: baseline; white-space: pre-wrap;">1,225m Descending </span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTfhlH7Uq-7CO3dBCk593WEkYQy9T_aI8S_tuFDSMNh4xHabk504WhpKgcK5mT_G6CbkOasn8SFLk81ZPtOT8vlJr8Rw6bXAVYODD6pdjWrW2S8-9LfmMBmi90Qoiztsxsn4aWmgUjDYY/s1600/January2013Tenerife+097.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTfhlH7Uq-7CO3dBCk593WEkYQy9T_aI8S_tuFDSMNh4xHabk504WhpKgcK5mT_G6CbkOasn8SFLk81ZPtOT8vlJr8Rw6bXAVYODD6pdjWrW2S8-9LfmMBmi90Qoiztsxsn4aWmgUjDYY/s200/January2013Tenerife+097.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Faro de Anaga</td></tr>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitnHdXO10WamY0ehoQzM2jI-lMZZjG5KjrF4574k6iENyFopS1OZJ6S92p_iqUdF5AaHZiMeVZRFMuk5cwWn0bcUIqF1gOPx__F4TXKpBvr2uxMqEfL4OF70AinnGHudJF9ifO_RqLjWg/s1600/January2013Tenerife+133.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitnHdXO10WamY0ehoQzM2jI-lMZZjG5KjrF4574k6iENyFopS1OZJ6S92p_iqUdF5AaHZiMeVZRFMuk5cwWn0bcUIqF1gOPx__F4TXKpBvr2uxMqEfL4OF70AinnGHudJF9ifO_RqLjWg/s200/January2013Tenerife+133.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Roque de las Bodegas</td></tr>
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<span style="font-family: Arial; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;"><b>NB : The times will depend on your own pace but I was walking at a very brisk pace. </b></span>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-44875429130870917012012-12-14T11:24:00.000+00:002012-12-14T11:24:43.635+00:00GR 131 - Arona to La Esperanza <div class="separator" style="clear: both; text-align: center;">
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Last week I travelled to Tenerife with the intention of doing 3 stages of the GR131 and another walk in the West of the island. The plan was to do Arona - Vilaflor and Vilaflor - El Portillo on the GR131 and Santiago del Teide - Buenavista del Norte (via Masca). <br />
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It didn’t work out that way. I decided to start in Vilaflor on Tuesday and head for El Portillo. This route would take in 2 stages of the GR131 by bypassing the 3.7km walk to/from Parador after dropping down from Degollada de Guajara. <br />
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I was sitting on the steps outside the visitors centre in El Portillo at 12:05. The bus wasn’t due until 15:15 so I decided to continue on to La Caldera. <br />
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As I had taken a big chunk out of the middle section of the GR131 on Tuesday I decided at that stage that I would just finish it on the remaining two days for walking. So, on Thursday, I again started in Vilaflor and walked ‘down’ to Arona and on Saturday I travelled to La Caldera to walk ‘up’ to La Esperanza.<br />
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The entire route is very well marked but I did stray from the track on 3 occasions. On two occasions I was about 50m/100m away from a marker and on one occasion I got totally distracted and ended up on the TF24 (about 14km from La Esperanza) and had to drop back down to the path. I did have Paddy Dillon’s book with me and found it very useful for additional information/markers. <br />
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I absolutely loved this walk. On one occasion (between Parador and El Portillo) I had to put on my gloves but, other than that the weather was great. <br />
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Bus starts from Los Cristianos (base) were 5:50 X 2 (to Vilaflor) and 6:10 (to La Caldera). Three different buses were required to get from La Caldera to Los Cristianos (& vice versa) and from La Esperanza to Los Cristianos. Travel times on buses, for longer journeys, were 2 to 2.5 hours.<br />
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Tuesday - 40km in 8 hours 15 minutes<br />
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Thursday - 20km in 3 hours 45 minutes<br />
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Saturday - 30km in 6 hours<br />
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Pace - Very Brisk ;-)<br />
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Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-42691490391837123982012-09-19T12:27:00.000+01:002012-09-19T12:28:51.291+01:00Rationalisation in the Life & Pensions Industry in Ireland<br />
Last week Zurich Life announced (quietly) that it plans to close the Cork and Galway branches and is looking for about 70 voluntary redundancies. The company cites the continuous decline in the health of the Life & Pensions industry, since it peaked in 2007.<br />
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What’s surprising, is that it has taken 5 years to come to this conclusion and that there have not been similar occurrences with some of the other players in the market.<br />
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You see, I’d consider Zurich Life to be one of the better players in terms i) the product range they have to offer to the end consumer ii) their service and iii) a unique ability to listen to what type of product I want and try to deliver it. <br />
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There are two existing players that have basically single (okay) product offerings and I don’t know if their parents are going to plough money into the small Irish market at this time. Why would they? It’s a mess.<br />
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There are two others that I would find it very difficult to place business with based on past experience with service and crappy products. Standard Life wouldn’t be one of these.<br />
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The biggest operator is owned by the State and has just swallowed up Quinn Life. There’s a few boutique players flogging deposit based tracker bonds to death. Bank Of Ireland are ‘trying’ to sell New Ireland.<br />
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The only speculative conclusion that I can come to is that: now that Zurich Life have made a move some of the others will follow by letting folk go to reduce costs in an attempt to enhance profitability. Life & Pension companies in Ireland don’t like to be ‘first’ with crappy news so I’d expect a few of the others to come forward any day now and tell us how terrible things actually are in the industry. <br />
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<br />Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-34083246572425114762012-08-14T09:19:00.000+01:002012-08-14T09:19:08.234+01:00Interview - Jerry Moriarty<br />
<strong>What is the best business/investment decision you ever made?</strong><br />
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Moving to the UK when I was 23, it opened up a lot of opportunities. Backing Galileo at 20/1for the 2001 Derby was very sweet too. Someone who worked with me had a friend who visited Ballydoyle early in the year and they said he was their best horse for that year. <br />
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<strong><em>What kind of car do you drive?</em></strong><br />
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Mercedes CLK 200.<br />
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<strong>What is the worst financial advice that you ever received?</strong><br />
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Not to join my DB scheme when I started working in the UK. Eventually did after a couple of years in the DC scheme.<br />
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<strong><em>Do you own property abroad?</em></strong><br />
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No.<br />
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<strong><em>Should basic finance be included on primary school curriculum?</em></strong><br />
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Absolutely, we need to do a lot more to help people understand the basics.<br />
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<strong><em>Do you contribute to a pension plan?</em></strong><br />
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Yes, we have a DC scheme at work and it's my main form of savings.<br />
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<strong><em>What's your favourite film of all time?</em></strong><br />
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It's so hard to narrow down and I change my mind a lot. Today I would say Stand By Me.<br />
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<strong><em>Have you ever won money?</em></strong><br />
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See No. 1. I am relatively lucky and have won my local GAA Club (Sneem, Co. Kerry) lotto.<br />
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<strong><em>Do you own your own home?</em></strong><br />
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Not fully yet,but yes.<br />
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<strong><em>Do you invest directly in the stock market, through funds or both?</em></strong><br />
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Not directly, but I do through my DC scheme.<br />
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<strong><em>What is your preferred method/system of saving (Deposits, Funds,Shares, Property)?</em></strong><br />
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Short term savings through deposits. Long-term by paying off mortgage as quickly as possible and pension scheme.<br />
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<strong><em>What financial product/s do you consider to be bad value for money?</em></strong><br />
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Anything that is sold as an add-on, insurance with electrical appliances. I wouldn't buy a washing machine from an insurance company so why the other way around,<br />
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<strong><em>Do you trust your bank?</em></strong><br />
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To a point. I still need one though and always check transactions and statements. <br />
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<strong>Jerry Moriarty is Director of Policy at <a href="http://www.iapf.ie/" target="_blank">Irish Association of Pension Funds</a></strong>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-53065160314640636712012-08-10T10:04:00.000+01:002012-08-10T11:30:04.524+01:00Danica Life (Ireland) - What to do?<br />
Danica Life are exiting the Irish market. It will cease trading as a life insurance company here on 31st December 2012. <br />
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The current book of business will be transferred on 31st October to the parent company in Denmark. The exception to this is their PRSA business which will have to be transferred to another PRSA provider here in Ireland.<br />
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It appears that online access to policyholders accounts, who stay with Danica, will not be available after the transfer to Denmark.<br />
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The original service Danica offered was on an ‘execution only’ basis but it is now recommending that policyholders seek financial advice before they make any decision on surrendering or transferring to another company before the transfer date.<br />
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If policyholders have to get financial advice they will have to pay for this either by fees or by entry/exit charges on the ‘new’ products that they will be investing in. <br />
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If policyholders were able to navigate the Danica products on an ‘execution only’ basis ( ie no advice) originally, then I don’t see why they can’t do so again if they are transferring to other products here. If policyholders are in the market for this type of service then they might consider the following.<br />
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The Personal Pensions, Executive Pensions, Pension Retirement Bond and PRSAs can be purchased on a ‘no advice’ basis via <a href="http://www.prsa.ie/">www.prsa.ie</a> . There are no entry/exit charges, no policy fees and there is a single annual management charge of 1%pa.<br />
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As for the Investment Bond, well that’s a bit more tricky because of the tax implications of surrendering the Danica plan as you can’t offset the loss on a Danica fund against another fund. However, if the gain/loss is only marginal and the policyholder is adamant about surrendering the Danica fund then they might look at what’s available via <a href="http://www.investandsave.ie/">www.InvestAndSave.ie</a> or <a href="http://www.bond.ie/">www.Bond.ie</a> . Both of these sites offer low-cost execution only products.<br />
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The Danica Life exit announcement also refers to Mortgage Protection and Term Insurance products that they may have sold. Again, the policyholder can change provider if they wish and I’d be surprised if they couldn’t get a cheaper policy in the Irish market. <strong>Caveat</strong> : if policyholders are switching providers, make sure that you have the new policy in place (on cover) before cancelling the old one.<br />
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<strong><u><em>Declaration of Interest</em></u></strong> : The above execution only sites are operated by the author. <br />
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<br />Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-81447756652270914662012-07-12T11:17:00.003+01:002012-07-12T11:17:58.655+01:00The Pensions Versus Savings Debate<br />
The goalposts have been moved over the last few years in terms of the tax efficiency of pensions. Some reliefs have been reduced and taxes have increased on the benefits that are being drawn down.<br />
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Tony Gilhawley of Technical Guidance Ltd., in partnership with Standard Life, have produced a technical paper on the issue titled <strong>'To Pension or to Save...that's the question!',</strong> which is available <a href="http://www.brokerzone.ie/pdfs/ezine/TGToPensionOrToSave0712.pdf" target="_blank">here</a>.<br />
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The answer? Well, it depends...<br />
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Whichever route you take, it may be worth your while investigating these <a href="http://www.prsa.ie/" target="_blank">Pensions</a> or <a href="http://www.investandsave.ie/" target="_blank">Savings</a> products. <br />
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Both sites provide access to low-cost products on an 'execution only' service basis.<br />
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<br />Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-25987356035026281422012-07-03T15:25:00.000+01:002012-07-03T15:26:49.936+01:00How your life insurance premium can increase by 1,384%<br />
I’m currently dealing with a life insurance policy where the Life Company have carried out a ‘review’ of the premium and sum insured. They have decided that the premium needs to be increased by 1,384% if the persons insured want to maintain the level of life cover that’s on the policy, up to the next review date.<br />
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The policy was taken out 25 years ago and is what’s referred to as a Unit-Linked whole-of-life policy. The premiums on these policies are guaranteed for 10 years. They are then reviewed by the Life Company and they decide whether the premium, plus any cash value on the policy, is sufficient to maintain the level of cover until the next review date. After the 10 years, reviews are carried out every 5 years thereafter and annually after age 65.<br />
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The Life Company state that ..”unfortunately your policy has not been reviewed as scheduled.” My reading is that, they never reviewed it.Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-12845331495855993482012-06-25T14:49:00.000+01:002012-06-25T14:49:14.065+01:00Specified Illness Cover - Financial Tip<br />
As most of you will know, Specified (Serious) Illness cover pays out a lump sum if you are diagnosed as suffering from one of a number of specified serious illnesses (ie Cancer, Stroke, Heart Attack etc.), as defined in the product providers policy document.<br />
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If a ‘Critical Event’ happens (eg diagnosis of specified illness), then the insured must survive 14 days so that they are eligible to claim under the policy.<br />
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If you are in the market to buy this product, for a fixed level term, I would recommend that you buy the cover on a 100% ‘Accelerated’ basis. <br />
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This means that you insure yourself for Life Cover & Specified Illness Cover under the one policy, where the full sum insured is paid out in the event of your death <strong><u>or</u></strong> on a ‘critical event’.<br />
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The difference in premium between the ‘Accelerated’ & the Specified Illness policy only is very small and in some cases can work out cheaper. You also eliminate the 14 day survival period issue.<br />
<br />Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-50063037998104417612012-04-10T16:09:00.001+01:002012-04-10T16:21:20.934+01:00The Downward Spiral ContinuesThere isn’t a week that goes by where an Irish based Life & Pension company complains about the perilous state of their market. They are all in a ‘race to the bottom’ as they struggle with profitability and retention of business.<br /><br />The Life & Pension market has nosedived about 60% since its peak in 2007. There is no way that anything like this number of regulated entities have exited the market since then. (I’m awaiting a reply from the regulator on the percentage increase/decrease since 2007.) So, where is their income coming from if there’s less ‘new’ business to go around? How can they all survive a decrease like 60%? <br /><br />The dogs in the street know that there is a problem but no one seems to be doing anything about it, except complain. The only conclusion that I can come to is that the Life & Pension companies don’t think it’s their responsibility to change anything. If fact, there may be a mindset within the industry that is waiting for the regulator to ‘do something’.<br /><br />The thing is, it’s not the regulator’s problem. The Life & Pension companies have created the problem themselves and it would not make sense for the regulator to intervene as, on the face of it, the consumer is benefiting from reductions in life insurance rates and enhanced allocation rates for pension/investment business.<br /><br />As far as I am aware, Life & Pension companies have to submit annual figures on how many policies 'replace an existing contract, in whole or part', so the regulator should know what they’re looking at. <br /><br />It may be that the Life & Pension companies want the regulator to say ‘your business model is doomed and you have to change it’. Of course, this would suit the companies as they could then ‘blame’ the regulator for insisting on change and save face with their broker/advisor market. <br /><br />In the meantime, those who rewrite life insurance every few years will be rubbing their hands with glee at the prospect of rate changes (again) in December due to new gender equality legislation. ‘New’ policies means ‘new’ income. The downward spiral continues.Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-48001038848850747462012-03-23T14:36:00.003+00:002012-03-23T14:45:51.474+00:00(Snap) Annuity Survey 21/03/2012There are currently only three main players in the annuity market in Ireland. Irish Life, New Ireland and Zurich Life are the only companies that are actively competing for annuity business.<br /><br />You may get a quote from Friends First, Standard Life or Canada Life and it may be worth bearing in mind that sometimes they might be competitive with their rates.<br /><br />For the purpose of this post, I am limiting it to the three that are currently interested in doing business.<br /><br />The maximum commission that can be paid to an advisor by Irish Life is 2% of the purchase price. New Ireland is 3% and Zurich Life is 2.5%.<br /><br />Zurich Life €6,792.48 pa<br /><br />New Ireland €6,774.60 pa<br /><br />Irish Life €6,680.70 pa<br /><br />Even though the commission rate on the Zurich & New Ireland annuities is assumed at 2.5% for the quote above, they are currently quoting higher rates than Irish Life with a max commission of 2%.<br /><br />Buying the annuity directly from the pension provider will incur a commission charge. This will more than likely be 2%. <br /><br />If you decided to buy the annuity on an ‘execution only’ basis (no advice) via a broker you could negotiate a lower commission or pay a fee to execute the transaction.<br /><br />For the ‘execution only’ service available at <a href="http://www.pensionannuity.ie/">www.PensionAnnuity.ie</a> the annuity payable per annum would be <strong>€6,938.52 </strong><br /><br /><em>Quote based on the following customer details:<br /><br />Male 15/03/1947, Female 15/03/1952, €150,000, Guarantee period 5 years, Level annuity, Reversion rate 66.67%, Payable monthly in advance </em>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-23303022391798317862012-03-23T12:24:00.003+00:002012-03-23T12:30:18.781+00:00Buying an Annuity - OptionsIf you have a pension fund maturing and you are in the market for an annuity, you should realise that there are options available in respect of how you buy the product.<br /><br />The pension company that has been managing your fund will probably offer you an annuity rate but you are not restricted to taking this. You can shop around for the best rate that is available on the market.<br /><br />If you need advice on the best annuity provider or on the options that may be available on the product, then you are going to have to pay for this advice. In the vast majority of cases this is paid for by commission from the annuity provider to the advisor. Commission rates vary in Ireland from 0% to 3% of the purchase price. <br /><br />If the commission rate is 0% then you will obviously pay a fee to the advisor for his/her work on the advice you receive and in the placing of the product with the provider. The larger your pension pot, the more likely that the fee method of payment will suit and you should negotiate the fee with the advisor.<br /><br />As an alternative, you can also buy an annuity via an ‘execution only’ service. You will not receive advice on which provider is the ‘best’ or on the options available under the contract but you will receive an annuity rate that will be enhanced because the cost associated with the ‘advice’ has been eliminated.<br /><br />The ‘execution only’ service is suitable for retirees that have a good understanding of their financial needs and that can analyse the merits of a particular product or provider. <br /><br />So, if you’re in the market to buy an annuity you should explore which purchase route suits you and how you are going to pay for the service provided. Remember, the annuity is for the rest of your life so any discount on charges will benefit you until your demise. <br /><br /><br />Featured Website <a href="http://www.pensionannuity.ie/">PensionAnnuity.ie</a>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-63792434033985769782012-03-23T11:14:00.002+00:002012-03-23T11:17:29.628+00:00Decumulation StrategyWe spend most of our working lives trying to accumulate pension assets that will generate an income for us when we stop working. We spend a lot of time thinking how best to do this. Unfortunately, for most of us, it is only when we are faced with a retirement date that we start to think about decumulation ie. converting pension assets into lifetime income.<br /><br />In the pre Approved Retirement Fund (ARF) era this was pretty straightforward. You elected to take as much tax-free-cash as you could and bought an annuity with the balance. That didn’t really need a decumulation strategy if your pension fund was your only retirement asset.<br /><br />Today, we have ARFs, Annuities and Vested PRSAs to choose from in the post-retirement pension product market. All of these products have their merits. Depending on your financial circumstances and attitude to risk, choosing a single product may offer the best solution for you.<br /><br />However, the multiple-product solution is something that you should spend a bit of time researching. Rather than leave it till the week/month that you retire to devise a strategy, why not do it now.Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-81246750005080389872012-03-01T12:29:00.004+00:002012-04-23T12:07:19.717+01:00Current Annuity RatesIf you, or someone you know, has a pension maturing and they are in the market to buy an annuity then they should put a bit of effort into searching for the best rate currently available.<br /><br />A quick survey today of the annuity rates available from the players in this market tells me that the best rate is <strong>15.5%*</strong> higher than the lowest one. That adds up to a lot of money over the lifetime of the annuity payments.<br /><br />(<strong>*</strong> Based on a joint life annuity for a male 65, female 60 incorporating a 5 year guarantee, level, payable monthly in advance with 2/3rds spouses pension.)<br /><br />Featured Website <a href="http://www.pensionannuity.ie/">www.PensionAnnuity.ie</a>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-14750460957859483462011-11-24T12:55:00.007+00:002011-12-06T11:41:23.421+00:00Improved Charging Structure from InvestAndSave.ieWith immediate effect, there will be no 1% Levy on contributions to the <a href="http://www.investandsave.ie/index.htm">InvestAndSave</a> product, <strong>for the duration of the contract</strong>, provided that the minimum Single and Regular payments are made. This applies to business transacted from 24th November 2011, or business that is currently in the pipeline but has not yet been issued. <br /><br />So, if you invest €5,000 (or more) as a Single contribution and €100 (or more) per month as a Regular contribution you will avoid the Government Levy of 1% on all contributions. <br /><br />If you invest a Single contribution only, the levy will apply to this payment.<br /><br />There are no entry or exit charges on this product. You can choose to invest in any of the 17 Actively Managed and 13 Passive Funds available. The annual management charge on these funds is 1%pa.Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-47988140208434188482011-08-08T16:32:00.002+01:002011-08-08T16:42:36.274+01:00Pension Anomaly - Tax-Free-Cash and Guaranteed Annuity Rates
<br />Under current pensions rules a person with a mix of multiple Personal Pensions (RACs) and PRSAs, that elects to draw down the 25% tax-free cash, must take this percentage from each individual policy.
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<br />If none of the policies had a guaranteed annuity rate (GAR), this would not make any difference to the policyholder.
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<br />However, if a GAR applied to one (or more) of the policies then you could be put at a financial disadvantage if your preference is to take the maximum tax-free cash (TFC) and buy an annuity with the balance.
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<br />The best way to illustrate this is by way of an example:
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<br />€300,000 in a GAR product with annuity rate of 11.11%
<br />€100,000 in a non-GAR product
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<br />1. Current rules dictate that you take €75K from GAR product and €25K from non-GAR product, giving you total tax-free cash of €100K. You would then get a pension of €24,997 from GAR product and €4,218 from non-GAR product (buy annuity on open market) <strong>Total = €29,215 per annum</strong>
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<br />2. If you were allowed to take 25% of the total aggregate fund (€100K) from the non-GAR product alone, you would get a pension of <strong>€33,330 per annum </strong>
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<br />Option 1. would put you at a financial disadvantage to the tune of <strong>€4,115 per annum</strong>
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<br />If this anomaly applies to your pension contracts, you (or your advisor) should write to the retirement benefits section of Revenue and ask for a ‘concession’ by outlining the full details of the policies to show how you might be put in a disadvantageous position by being forced to take 25% of each individual policy.
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<br /><em><strong>If you (or your advisor) don’t ask, you shall not receive.</strong></em>Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0tag:blogger.com,1999:blog-999235459057554332.post-60874813571928952402011-07-04T12:27:00.006+01:002011-07-04T13:30:19.198+01:00Life Insurance Managers should 'put a sock in it' about retention & profitability.Those that are in the space of product providers of Life Insurance are a funny old bunch. <br /><br />Life Insurance Companies are moaning about how difficult it is to retain business, as clients cancel policies and advisors re-write policies every few years. This means that life offices are not making money on these products.<br /><br />I have approached a number of them over the last 12 months with a view to altering the structure of the products so that the client gets a better deal and the policies stay with the Life Insurance Companies for longer periods, thus making them more profitable.<br /><br /><strong>Result :</strong> The only appetite providers have is to increase commission payments to intermediaries and <em><strong>not</strong></em> to change the product structures. The consumer is forgotten again. <br /><br /><strong>Prediction :</strong> When the shareholders start copping on as to what is happening, they will change the structures but it may take a few more years.<br /><br />In the meantime, I’d appreciate it if the Life Insurance Managers would 'put a sock in it' about retention & profitability.Gerardhttp://www.blogger.com/profile/15003132446821882426noreply@blogger.com0