What is Retiready's service charge?
Updated 13 September 2016
The monthly service charge covers the cost of using Retiready and is based on the value of your fund. We charge:
- 0.5% a year of your first £50,000
- 0.4% a year of your next £50,000
- 0.3% a year for anything above £100,000
For example, if you had a Retiready Pension fund of £125,000 we’d charge :
- 0.5% a year of your first £50,000 = £250
- 0.4% a year of your next £50,000 = £200
- 0.3% a year for the remaining £25,000 = £75
- Total annual service charge = £525
To calculate your monthly service charge, we simply divide your yearly service charge (£525 in the example above) by 12.
To work out your total charge as a percentage simply divide the total annual service charge by your total fund amount and multiply by 100. Using the example above this would be (£525/£125,000) x 100.
Charges may vary in the future.