Your members pay three different charges:
- Monthly administration charge. This is for running the Scheme. It costs £1.75 a month or £21 a year. But we won’t take the full administration charge if it would make the value of their pension savings lower than £100.
- Investment management charge. This is for investing the money in the Scheme. It costs 0.3% of the value of their pension savings every year.
- Transaction costs. These are for buying and selling investments. We don’t charge for them separately. We factor them into the returns on the Scheme’s investments.
You can see the combined effect of the monthly administration charge, investment management charge and transaction costs over time in our costs and charges booklet.