Pension Charges – Do you know what you are paying? Irish Times
Pension Charges – Do you know what you are paying? Irish Times article by “David Quinn” Investwise
It’s about time the findings of the Pensions Charging Report were issued. I completely agree with the findings and think the industry in general charges far too much for bad advice.
I would urge everyone to check what you are paying your pension provider. Here are the key questions to ask,
1) What is my annual management fee, or ideally Total Expense Ratio. This is usually the highest charge each year and can be over 2% of the fund value each year. It should be at or below 1%.
2) What is my premium allocation? This is the percentage of your monthly payment that actually gets invested. It should be 100% ideally.
3) Am I paying any additional policy or admin fees?
Minister Joan Burton commissioned the report recently which was issued yesterday. There is an article on this issue in the Irish Times today, see link.
Irish Times Article – The article is no longer available on the Irish Times website
Maybe it’s time to talk to pension experts about your pensions, call Investwise today at 016452002