If you have over £6,000* saved, you’ll start to qualify for a rebate from 17 February 2020 and we’ll apply the first rebate in August 2020. The first rebate on the management charge will be for 6 months and thereafter, we’ll apply the rebate monthly.
If you were to transfer money in from another pension scheme, the money would need to be received before the start of the rebate period to be eligible for a rebate at the next calculation date. If you were to withdraw your money, you may no longer be eligible for a rebate on the management charge.
To qualify for a rebate, your money must be invested by the first day of a rebate period. So, when you first join The People’s Pension, you won’t receive a rebate at the end of their first rebate period.
*Minimum rebate payable is 1 pence.