Pension charges

Our charges

We try and keep things straightforward, even our charges.

The charges for our pension total no more than 0.75% per year, of the value of your pension pot. If your pension had a value of £10,000 for a whole year* that would be no more than £75.

0.30% per year (that’s £30 of the £75 example above) is an Account Charge for running your account. We collect this charge by selling, or cashing in, some of your investment units each month.
Up to 0.45% per year (that’s £45 of the £75 example above) is an Annual Management Charge for managing your pension investments. We allow for this charge by adjusting your daily unit price.

*Because the value of your investments will go up and down, we work out the charges each day, based on that day’s value.

If you choose our Navigator pension then the charges reduce after age 51, as your pension investments change. Your overall charge will be between 0.72% and 0.75% per year – that’s £72-£75 for a pension value of £10,000.

If you choose our Self-Drive pension then the total charges depend on how you choose to invest your pension. Your total charges could be between 0.70% and 0.75% per year- that's £70-£75 for a pension value of £10,000.

Whichever one of our pensions you choose, and however much or little you choose to pay in, our pension charges are based on the value of your pension pot.

So that’s it. A total charge of no more than 0.75% per year for your pension and nothing extra for you to pay or do – we do all the admin.

Navigator pension charges

Navigator automatically adjusts your pension investments, gradually moving some of your pension into lower risk investments each year once you’re 51. To do this, we use two of our special investment approaches – each with a different management charge:

Our Adventurous Growth approach has an Annual Management Charge of 0.45% per year
Our Careful Defensive approach has an Annual Management Charge of 0.40% per year

So, as Navigator moves your money into our Careful Defensive approach, your charges reduce.

Here's an example

	Up to age 51	Age 60	Age 65+
Account charge You’ll see this in £ and p in your account and on your statements each month.	0.30%	0.30%	0.30%
Annual Management charge You won’t see this as a separate charge as it’s allowed for in the daily unit price used to value your investments.	0.45%	0.43%	0.42%
Total charge	0.75%	0.73%	0.72%
Total per year for a pension pot of £10,000*	£75	£73	£72

*Remember, this is only an indication because the value of your pension will go up and down. We'll work out the charges each day based on that day's value.

What about the returns with a Navigator pension?

To see what your Navigator pension might be worth and what your total charges might be visit our Navigator pension calculator.

Self-Drive pension charges in more detail

With a Self-Drive pension you choose which of our investment approaches to invest your money in. Our Account Charge is 0.30% per year of the value of your pension – however you choose to invest it. Our approaches have different Annual Management Charges, between 0.40% and 0.45% per year.

So your total charges could be between 0.70% and 0.75%.

What about the returns with a Self-Drive pension?

To see the charges for each investment approach, the total charges and what your Self-Drive pension might be worth visit our Self-Drive pension calculator.

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