Money MOT – Pension Charges

 

In a world where everybody constantly checks and compares prices of just about everything, it is amazing that nobody bothers to look at pensions and their pension charges.

If you were to take the average of pension charges across the UK most individual investors will be looking to spend somewhere in the region of 20% of their pension value every 10 years, that’s 40% over 20 years. Somewhere close to half of their pension over an average term. Now surely faced with that fact you would assume that everybody with a personal pension plan would be looking to reduce or at least compare their charges.

The reality is very few do because the perception is that it’s difficult, well it was until now. You will be shocked at how much you are actually paying in charges.  The calculator comes with the instructions you will need to fully complete the spreadsheet.

Don’t forget once you know how much you are paying, let me know by leaving a comment.

As individuals we are constantly reminded that we need to compare car insurance is, electricity and gas prices along with every other insurance/commodity products that we own and no mention is ever made of pensions.

Despite the fact that nearly half of your pension will disappear in charges over a 20 year period. Fact!

There is even more bad news, if you manage to start a pension during the 80s or early 90s the level of charges within your plan could be even higher meaning that more than 40% will disappear in charges over a 20 year period. The fact of the matter as it does not have to be like this, there are a number of providers in the market place that will manage your pension for you at extremely low charges, from nil upwards.

We have been looking at this issue of pension charges for some time and will soon be in a position to provide you with our pension charge calculator and some supporting information, by using our pension charge calculator it will be easy for you to work out exactly how much you will pay in charges and to compare the options in the open market.

There is absolutely no need for you to be paying 40% of your pension in charges in this current economic climate.

Please send us your details below and we will provide you with the pension calculator, this is an Excel spreadsheet.

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Our Pension Calculator  is  ready   – send us your details and we will email it across to you.[/box]