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Question on plan charge

  • 20-06-2019 7:12pm
    #1
    torrevieja
    Registered Users, Registered Users 2 Posts: 1,673 ✭✭✭


    I have a private pension just wondering what about this it says on my statement plan charge is taken each month as a percentage of your fund. This covers costs of the initial and ongoing sales advice and administration bthen in a column beside it it had the figure €119.89, can somebody tell me is this how much I'm paying out of my direct debit payment before my money hits the fund, every month and I'm paying €1438.68 Annually for this ,

    If this is right is that not a bit over the top cause then I'm effectively paying 3 months of my money to them?

    Thanks in advance


Comments

  • #2
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    It's hard to know based on the figures, but I'd be of the opinion that the €119.89 might be cumulative, for the YTD? It should be clearly set out in your policy documentation what the fees are, it's usually a low percentage number, like 1% or something similar


  • #3
    torrevieja
    Registered Users, Registered Users 2 Posts: 1,673 ✭✭✭torrevieja


    I will have another look at it again


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