At My Pension Expert, we want to provide a fair, comprehensive, and transparent service. That’s why fees are only ever applied once you’ve received and accepted our recommendation.
Your adviser will make sure you fully understand the associated costs and how they’ll impact your pension and investments during your advice call. We also include all the relevant fees in the quotes and illustrations you’ll receive in your introduction pack, so any income, guaranteed maturity amounts, and any other estimations reflect what you’ll actually get. There won’t be any surprise costs added on later!
Below is a breakdown of all the costs and charges that could apply to you. Your adviser will highlight which are relevant and answer any questions you have during your advice call.
Our fees
To keep things simple, we only have two types of fees. These are taken as a percentage of your pension or savings, usually as part of the fund transfer.
Initial Advice Fee
This is the one-off fee for our recommendation, if accepted. It covers the cost of advice and all administrative work required to transfer your funds to the recommended plan. This fee is only applied once you’ve received and accepted our advice and have returned your application pack.
Ongoing Advice Fee
If you select a drawdown plan or we offer advice on your investments, you’re also eligible to join our ongoing advice service. This annual subscription to our service gives you year-round access to your dedicated adviser, an annual financial health check, and other exclusive market insights.
Provider charges – drawdown and investments only
In addition to our service charges, the companies that manage and hold your investments will also charge a fee. Please note, these fees will vary depending on your provider.
| Fund Charge | This is an annual fee charged by the provider of your investment portfolio. |
| Platform Charge | This is an annual charge paid to the platform used to manage your investments. |
| Discretionary Fund Management Charge | This annual charge pays for the ongoing management of your fund by one of your provider’s dedicated fund managers. |