Pension charges question

skippy2

Details of pension charges below
Just wondering if anyone can advise are these normal or standard

Exactly what is the difference between Initial units and Accumulator units

With the Bonus...... "5% of fund after 10 years in force"
is it as simple as that that after 10 years there should have been a bonus added of 5% of the fund on that date as I cant see this has been added

Bid / Offer Spread 5%
Management Charge 4.75% PA - Initial units
0.75% PA – Accumulator units
Policy Fee £3 per month
Pension Board Fee £5
Note: Initial units transfer at Maturity rate

Bonuses:
Premium allocation 9Over £3,000) 100.5%
5% of fund after 10 years in force – to both initial and accumulator units
0.5% PA from year 11 onwards - fund based
3.5% Maturity Bonus - Fund Based

Any advice appreciated..............Fund has been in place since 1994

Henry Ford III

Accumulation units are normal ones. Subject to amc only.

Initial units are allocated in the first year or more, and are subject to additional charges. They cover initial setup costs including any commission payable to the salesperson.

skippy2

Thanks for that
So can i assume that this means units bought in first year only incur the 4.5% and they incur this PA for ever
Then the rest of the units bought after this incur the 0.75% PA

Any comments on the bonus after 10 years question?