New regulations now ask Independent Governance Committees (IGC) to publish costs and charges information in more detail. This includes the ongoing charges and transaction costs for all funds that Phoenix customers can invest in, and example illustrations showing the effect these charges could have on your pension pot over time.

You can find more information about the regulations and details on the costs and charges the IGC is publishing in this year’s IGC report.

 

Costs and charges for individual customers

There are two downloadable documents in this section for individual customers.

The first shows a range of costs and charges for the nine most popular unit-linked funds that Phoenix customers invest in. These funds are linked with investments which may include stocks and shares.

You’ll see that not all customers pay the same price for the same fund. Costs and charges can vary depending on the funds you’ve invested in and the type of policy you have.

We’ve shown the charges as percentages so you can compare what you’re paying to what others are paying for the same fund. For example, the table shows the distribution of charges for customers invested in the Phoenix NPI Pensions Managed fund. If you are invested in this fund and are paying a charge of between 0.96% and 1.00%, then 17.83% of other customers invested in this fund will be paying a lower charge than you.

If you don’t know the percentage you’re paying, you may find it in your pension statement or you can contact Phoenix using the details in your statement.

The second downloadable document shows the range of costs and charges for all available unit-linked funds that Phoenix customers can invest in.

 

Costs and charges for employer arrangements

There are two downloadable documents in this section for employer arrangements.

The first shows the range of costs and charges applying to individual employer arrangements. It doesn’t focus as much on what you pay as an individual, but it does let employers compare the charges for their arrangement against other employer arrangements. So you might want to encourage your employer to look at this information.

The second downloadable document shows the range of charges applied to every investment fund, that is available to all individual employer arrangements.

 

 

Example illustrations

The illustrations below show the effect these ongoing charges can have on the value of your pension plan over time. We want to help you find the information that is as relevant as possible to you. So we’ve provided information for eleven of the most popular funds that Phoenix customers invest in.

 

Detailed Information

Detailed information of all charges which can apply to every fund available to employers can be found here.

Investment fund charges and transaction costs