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Pension's Commission
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JoeCrystal
Posts: 3,325 Forumite
I am finally getting around doing personal pension and after talking to an IFA and reading the letter and so on. This particular personal pension is with Scottish Widows and it only got one charge, an Annual Management Charge. Also, there are different charges on funds as well. Which I understand.
The fees is £300 and while there is no initial commission, it seems an IFA is getting 1.25% commission based on value of my payments to the pension (or 1% on gross payment). I was wondering if that is expensive or normal.
It did mention that it will be paid for out of the charges though.
Thanks!
Just nervous here.
The fees is £300 and while there is no initial commission, it seems an IFA is getting 1.25% commission based on value of my payments to the pension (or 1% on gross payment). I was wondering if that is expensive or normal.
It did mention that it will be paid for out of the charges though.
Thanks!
Just nervous here.
0
Comments
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The fees is £300 and while there is no initial commission, it seems an IFA is getting 1.25% commission based on value of my payments to the pension (or 1% on gross payment). I was wondering if that is expensive or normal.
Thats good and typically a fair bit lower than standard terms.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks! You really settle my fears there.
For last few years, I really try to do something about pensions and it is feel so good to finally to get around to it!
Cheers!0
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