Category Archives: Pension Charges

Pension Charges – How Can You Reduce Yours?

There is a whole load you can do in order to reduce your pension charges – in fact is one of the easiest ways of making sure your retirement is more secure.

That said, there are some problems with pensions. I’ve written about these over at my ‘Money Education’ website.

You can download my free Pension, Pension Charges and Tax Relief Myth report.

Until next time.


Trumped – Alternative Facts and Pensions


Everywhere you look this topic is in your face; pensions are  a must have, something you couldn’t possibly live without. But is  that the truth or hype?



Even in the most Trumpesque of moments I can’t help but think his ‘two types of truth’ line
applies to all of the pension providers and advisers in the UK, let me explain.

You’re bombarded with facts about pensions you can’t ignore, your later years will end up
in a kind of Dickensian hell if you don’t start saving now, and you have to save it with us.

Look at the tax breaks they claim, look at the benefits, secure your future, only fool would consider anything else, we are supported by the Government, given tax breaks.

Some alternative truths are these…

1. You’ll commit to paying charges on your pension right up until you retire and these
will be ongoing (probably in the region of 20% of your fund every ten years).
2.  The choice of fund in which to invest are likely to under perform the markets generally – statement of fact about fund performance.
3.  The value of your advisers business will increase because of their guaranteed income.
4.  A change in pension rules could massively impact your final pot (there have been hundreds in the last twenty years).
5.  With modern tax rules you can invest tax free (virtually) outside of a pension, only not
many in the pensions industry want you to know this.

Alternative truths or just the truth? You decide, but if you want me to help  solve your pension problems in the space of an hour, simply borrow me for an hour, it comes with a  fixed price and unlimited potential to make you more money. I’ll also tell you why rich people don’t invest in pensions – charges are one thing, but there are others.

You can  ‘borrow my brain’ to solve a problem quickly  and be safe in the knowledge you’ll make many thousands of pounds from just one hour of your time, and you can do that here or you can get on the list, it’s where I share my best stuff first, and that’s below.

Be stupid not get on the list.


Richard Smith - The Finance Zone If you want to get ‘cutting edge, financial information
the industry would rather you didn’t have. Send me your details below.
Remember – I don’t share your information. That’d be wrong.


Abbey Life Pensions | Abbey Life Sold To New Owner


Today’s news seems to indicate that the pension provider/ life assurance provider Abbey Life has been sold for close to £1b by its German Owner Deutsche Bank.

Interestingly Deutsche Bank is having some problems, mainly due to the heavy fines it’s received in recent years. Abbey Life are a pretty poor provider of pension plans, with charges that are often twice those charged by competitors. I doubt the new owner, will be writing to let the policyholders know that they could be better of by moving to another lower cost provider. Just to let all of you know, they can and should.

Abbey Life are another of those providers that really should have been given a closure order by at least one of the regulators; not much chance of that happening.

Get in touch if you want the heads up on how to do that. Moving your Abbey Life pension is really simple, but if you want to save at least twenty percent of your pension over the next ten years I would suggest you do it sooner rather than later.



Pension Charges – Diy Or Not? What To Do In 2017

2017 is now clearly with us, but what does that mean for your pensions? In particular how will your pension charges be affected for the coming year?

The fact is this. If you change nothing, then nothing changes. Your pension provider is not about to drop you a nice letter and explain your charges have just been reduced and to thank you for the business.

Reality – with pension charges as low as 2% you’ll be losing 20% of your fund every ten years, plus you adviser charge which may well be as high as another 2%. Forty percent (that’s 40%) of your  fund potentially going in charges every 10 years.

Let me tell you the truth about your plan with a fixed price review. It’s a one off cost, I’ll review your plans and provide a full written report about how much you pay in charges, how it’s peformed over years and what you can do next. Fixed Price Pension Review.

Pension Planning – the old charges conundrum.

Remember when your Nan told you -’you only get what you pay for’ and that has stuck with you for life, honestly it’s true. Only now in 2013 things are even more complex than that.

Information is everywhere, we have comparison sites telling us what the best buy is on everything, and if that is not enough we have Which magazine, every month that tells us what is the best buy.

[box] You can’t get your Pension Charges to Nil – but you can get darn close.[/box]

Which have a massive team of independent experts reviewing everything from TV’s to electricity prices. Nothing is a simple as your Nan made out any more,

There never was the facility for her to buy from a supplier in the USA across the internet, nor were there a choice of 200 or so Fridge Freezers, and now with the comparison websites you have 20 firms comparing the 200 Fridges. No wonder everyone feels over loaded. Picking up a copy of Which will allow you to make a decision in an instant. Which know this.

The same applies to Pensions – you only get what you pay for, which is not true. Many of the lowest charging providers have incredibly good plans. But you need to be exerting choice over your investment funds, that means you need to have some knowledge about investments. Only you don’t.

The human animal has only been able to get access to pension since the 1960’s or so, and before then it was never an option to evolve and understand, it is just not possible to learn how to make investment decisions in 50 years as a species. It was nearly a million years before we left the sea for the first time, remember. As humans we still hiccup, something that Fish also do, some kind of stuck process inside our genetic makeup.

To get your own copy of the Pension Charges Calculator –

With that level of time to change it’s clear that being expected to manage your own pensions is not going to be learned anytime soon, and given the level of complexity one could argue that your choices are not going to be easy.

That said, one of the things you can take immediate control of is your Pension charges, these are directly comparable from one provider to another and all you are then left to do is manage your investments.

Given that Ape’s using pins to select investments seem to be outperforming investment fund managers I don’t think this is going to be a difficult exercise to learn.

Our one day training courses will teach you much of what you need to know, get in touch with us below and we will let you know the next time they are running.

Pension Charges – Investment Training

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.

First Name:


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


No Charge Pension

Do You Own A Personal Pension Plan From A UK Based Provider?

Pension charges are an issue, have always been an issue and will continue to be an issue until you the “public” start to take a stand against the providers in the market place that are charging more than they should to manage  your money, you can’t do that unless you have the knowledge.

[box] I have been an Independent Financial Adviser for  24 years – and as you would expect  professionally qualified. Over the past few years I  have developed a number of financial products and guides in certain areas of consumer finance.

  • I am a  financial expert and in particular an expert on the way the financial industry misrepresents itself.
  • I help consumers and businesses with financial problems created by the industry and have a proven track record in getting wrongs put right.
  • The information and guidance produced on this website and those related sites will transform your personal financial planning – if you take action. [/box]


If you have  a Pension(s) with any of the UK Banks or the larger Insurance Groups in the UK  I can say with some certainty that you are being charged considerably more than you should be.


  • Your Pension has an Advisor attached to it.
  • If your Pension was taken out 20 or 10 years ago
  • You are not aware of the charges within your Pension
  • Your Financial Adviser is trying to charge you a fee for ongoing advice

You need to get this report.

Below I have outlined the issue of charges in relation two types of pension ~ both of these plans are in the market place at the moment. 

Pension One
Initial Charge – 5% (£5 per hundred invested).
Annual Charge – 2.5% (£2.50 per hundred held)
Monthly Admin – £3.50

So with £10,000 invested and £100 per month contributions you are paying the following.
£60 pa initial charges
£250 pa annual charge
£42 – monthly admin (x12)

With out arguing over the pennies your annual charges are £352 per year.

Not much is it?

Let me put that in perspective for you, over a ten year period at least £3520 of your fund will disappear. Is it any wonder the pension industry wants your money.

Compare that with Pension 2.
£10,000 invested – Pension Charges – £NIL
£100 per month invested charges – £Nil

Probably saying to yourself – whats the catch, how can that be true?

The reality is this, there are several providers that are able to offer Pension 2 in the market place (even providing products at no charge is competitive), and there are some other caveats, but nothing you should worry about.

You are going to have some questions.

  • How do I work out what my present provider charges me?
  • How do I move my pension from one to another ?
  • What are the practicalities of moving pensions?

All of these are answered in my report, there is no obligation to buy anything. Nor will you be bombarded with sales emails or calls offering ‘money back’  – it’s not the way I work honestly.

[box type=”box”] Guarantee – the information in the report is not what the industry wants, but is what you need.[/box]

Do you want some further information, send me your details below and I will get this out to you.

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