This is how much you’re charged to have a workplace pension each year.
With The People’s Pension, there is an annual management charge made up of 3 elements:
- a management charge of 0.5% of the value of your pension pot each year
- a potential rebate on the management charge of between 0.1% on savings over £6,000 and 0.3% on savings over £50,000
- an annual charge of £2.50 deducted during the scheme year (which runs from 1 April to 31 March), if you have investments with us as of 1 April.
Charges vary across different pension providers though – you might come across some higher ones, and some have monthly charges as well.
Read more about our annual management charge.