At the People’s Pension, we reduce the rate we charge you as your savings grow. We have an annual management charge made up of 3 elements:
- 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 on 1 April
- a management charge of 0.5% of the value of your pension pot each year
- a rebate on the management charge of between 0.1% on savings over £3,000 and 0.3% on savings over £50,000
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.