pension annual charges

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pension annual charges

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The current charge by the regulators on a pension pot is a small percentage in the range of 0.5 to 3% of the total amount in the fund. This amount is charged regardless of how the fund performed, guaranteeing income to the fund manager and not the fund owner.

In line with the governments commitment to improve and encourage people to prepare for retirement, could the government consider passing legislation that would limit the charge on a pension fund to a percentage of the increase only in the fund. So the annual charge due to the fund managers is 10-20% of the increase in the fund for that year. If the fund performs negatively, they get nothing.

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