# Ark Life Pension Queries



## irbx (25 Mar 2015)

Hi all

Back in 2000 took out Personal Pension with Ark Life as my work at time did not supply one. In 2006 Stopping payments into this plan as my employer started one where they matched payment up to 5% of salary.

Looking at the Performance of this Ark Life Plan. I have Paid in €11,000 but current Value is €16,000. I Don't believe the Fund is getting the best value. So been older and wiser started asking about fees.

Fund Management Charge 1.07%

Plan Fee €5.47 per month

I asked for Total Expense Ratio (TER) and was advised in Writing from Ark Life that this can not be given to me as "Market Sensitive Information". Should they not have to provide this information?

The fund I have is "Pension Managed Series 2 Fund" When I Google it can find very little about it. until I got ark life to sent me fund fact sheet. 

In that can see 1. holding at 7.9% is another fund "ISHARES Core MSCI Japan IMI Ucits EFT" ( when i Google it can find the fund fact sheet which includes TER on it of .2%. (one of the hidden charges)
5. Holding is "Ark Life Property portfolio a" at 1% . But again cant find anything on the web about this fund. ( I believe another hidden Charge )

So question i am asking is it correct that TER does not need to supplied?
Also reading the above charges are these okay with today's charges I know PRSA is max 5%?

My work Pension Charge a Fund Fee of .25% and all other charges are coverage by my employer.

Thanks for reading


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## Steven Barrett (26 Mar 2015)

No insurance company discloses the TER and no, they don't have to either. 

Your work pension has the benefits of scale. A scheme paying in €100,000 a year has a lot more bargaining power than an individual paying in a few hundred. Plus, they are paying the additional administration and advisor fees directly themselves. You are paying for them out of the fees you are paying. 

You can transfer your benefits to a plan with lower fees. 

Steven
www.bluewaterfp.ie


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