Ongoing charges figure

The annual management charge of 1% of the value of your pension includes the costs of running your pension.

If your pension is valued at £1,000 throughout the year, this means we deduct £10 that year. If your pension is valued at £10,000 throughout the year, we deduct £100 that year, and so on.

Instead of being taken on a single day each year, it is spread over the year and deducted (1/365th) each day from the unit price.