They are charged monthly. I assume the low fees are negotiated as a benefit to a larger company plan. A life hack could be to join a large company DC plan with low fees early on in your career and when you have available funds to contribute? Then you might be able to keep a low fee structure for a portion of your pension plan that has the greatest capacity to multiply.When are the plan fee and Pensions Authority fee charged?
Find out what the TER is. It took me a while but I eventually got the figure from my pension provider.Looking at my Irish Life defined contribution plan investment guide charges:
.27% AMC for Developed World Equity Fund
.16% AMC for Annuity Objective Fund (Government and Corporate Bonds)
70 euro Plan Fee
4 euro Pension Authority Fee
Can I do better than this in terms of fees?
Can I ask how you got TER? I was under impression they would never disclose the real cost.Find out what the TER is. It took me a while but I eventually got the figure from my pension provider.
Yes they do. They don't publish them. Part of the ter in a fund is incorporated in the management charge you are paying, as well as broker commission and costs of administrating your policy.Can I ask how you got TER? I was under impression they would never disclose the real cost.
I just asked the pension provider (and asked again, and again...)Can I ask how you got TER? I was under impression they would never disclose the real cost.
Yes, because you have to pay for it yourself.When this work pension plan is retired (lump sum and ARFed), I assume that as individuals we lose out on the low fee structure?
It seems ARF fees hover at 1% or more?
In our case then, it probably make sense to retire the most expensive of our plans first? To leave the other plans to keep growing under the lower fees?
I know that I have seem on AAM that IL funds under perform but for the average person like me, one of the main things I can track and keep down is fees.....
Yes but what is TER?Our current fees (with APT Masterplan) are 0% Load Fee, 0 policy fee so the only fee we pay is the annual management fee (which depends on the fund you pick) varies from 0.2-0.7%. the average is 0.52% and the default fund is 0.64%
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