Our Remuneration

Our Remuneration

We, Kerin Financial Ltd, act as an intermediary (Broker) between you, the consumer, and the product provider with whom we place your business.

The background

Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.

What is commission?

For the purpose of this document, commission is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of commission is generally directly related to the quantity or value of the products sold.

There are three different types of commission models:

Single commission model:Where payment is made to the intermediary shortly after the sale is completed and is based on a percentage of the premium paid/amount invested/amount borrowed.
Trail/Renewal commission model:Further payments at intervals are paid throughout the life span of the product.
Indemnity commissionIndemnity commission is the term used to describe a commission payment made before the commission is deemed to be ‘earned’. Indemnity commission may be subject to a clawback (see below) if the consumer lapses or cancels the product before the commission is deemed to be earned.

Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.

Life Assurance/Investments/Pension products

For Life Assurance products commission is divided into initial commission and renewal commission (related to premium), fund based or trail relating to accumulated fund.

Trail commission, bullet commission, fund based or renewal commission are all terms used for ongoing payments. Where an investment fund is being built up though an insurance-based investment product or a pension product, the increments may be based on a percentage of the value of the fund or the annual premium. For a single premium/lump sum product, the increment is generally based on the value of the fund.

Examples of products include Life Protection, Regular Premium Life Assurance Investments, Single Premium (lump sum) Insurance-based Investments, and Single Premium Pensions.


Investment firms, which fall within the scope of the European Communities (Markets in Financial Instruments) Regulations 2007 (the MiFID Regulations), offer both standard commission and commission models involving initial and trail commission. Increments may be based on a percentage of the investment management fees, or on the value of the fund.


Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.


The firm may also be remunerated by fee by the product producer such as policy fee, admin fee, or in the case of investment firms, advisory fees. Include arrangements etc

Please Note

The enclosed commission guidance section gives indicative values across every product provider and every product advised whereby a commission or fee is received within our business. This is the maximum our Brokerage will take and is subject to change, in certain cases our Brokerage may take a different remuneration than the enclosed percentages/amounts. This will be disclosed to each client as per the Central Bank Consumer Protection Code regulations, on a client by client basis.

Other Fees, Administrative Costs/ Non-Monetary Benefits

The firm may also be in receipt of non-monetary benefits such as:

  • Attendance at product provider seminars
  • Assistance with Advertising/Branding

Further detail on the providers we work with, the products we sell and the maximum commissions available to us are outlined below.

Single Contribution PensionInitial CommissionClawback PeriodTrail Commission
Single Contribution Pension
Aviva5%1% p.a.
Friends First5%0.75% p.a.
Irish Life5%0.75% p.a.
New Ireland5%5 Years1% p.a.
Standard Life5%1% p.a.
Zurich Life5.5%0.5% p.a.
Single Contribution PRSA
Aviva4%0.5% p.a.
Friends First7.5%0.25% p.a.
Irish Life5%0.75% p.a.
New Ireland7%5 Years0.5% p.a.
Standard Life5%0.5% p.a.
Zurich Life5.5%0% p.a.
Aviva5%1% p.a.
Friends First5%0.75% p.a.
Irish Life5%0.75% p.a.
New Ireland5%n/a1% p.a.
Standard Life4%1% p.a.
Zurich Life5.5%0.5% p.a.
Friends First3%n/a
Irish Life3%n/a
New Ireland3%n/an/a
Standard Life3%n/a
Zurich Life3%n/a
Investment Bond
Friends First4%0.75% p.a.
Irish Life3%0.5% p.a.
New Ireland4%3 Years1% p.a.
Standard Life4%1% p.a.
Zurich Life5%0.5% p.a.
Regular Contribution ProductsInitial CommissionClawback PeriodRenewal  / Flat CommissionTrail Commission
Regular Contribution Pension
Aviva15%1% p.a.
Friends First25%0.75% p.a.
Irish Life17.50%5%0.5% p.a.
New Ireland25%5 Years8%1% p.a.
Standard Life25%5%1% p.a.
Zurich Life20%4 Years3%0.5% p.a.
Regular Contribution PRSA
Aviva22.5%0.5% p.a.
Friends First17.5%0.25% p.a.
Irish Life17.5%5%0.5% p.a.
New Ireland25%5 Years6%0.5% p.a.
Standard Life5%5%0.5% p.a.
Zurich Life5%4 Years5%0% p.a.
Aviva15%1% p.a.
Friends First10%0.75% p.a.
Irish Life5.5%6%0.5% p.a.
New Ireland10%5 Years3%0.5% p.a.
Standard Life15%5 Yearsn/a1% p.a.
Zurich Life10%4 Years1%0.5% p.a.
Individual ProtectionYr123456789+Clawback Period
Aviva200%30%30%30%30%30%30%30%30%2 Years
Irish Life120%28%30%28%28%30%28%28%28%
New Ireland225%50%20%20%20%12.5%12.5%12.5%12.5%5 Years
Royal London5 Years
Zurich Life100%12%12%12%12%12%12%12%12%1 Year
Group ProtectionDeath in ServiceClawback PeriodPermanent Health InsuranceClawback Period
Irish Life6% p.a.12.5% p.a.
New Ireland15%1 Year20%1 Year
Zurich Life6%n/a12.50%n/a
MortgagesCommissionClawback Period
Permanent TSB1%3 Years
Haven1%4 Years
ICS1%5 Years
KBC Bank1%6 Years
Finance Ireland1%7 Years

Kerin Financial Ltd t/a Kerin Financial is Regulated by The Central Bank of Ireland