People's Pension says rebate fee structure has led to £50m

Provider says it is currently paying £2m back to members every month

Jonathan Stapleton
clock • 1 min read
Patrick Heath-Lay: We do not believe in ‘set and forget‘ industry charging practices
Image:

Patrick Heath-Lay: We do not believe in ‘set and forget‘ industry charging practices

The People’s Pension says it has given back a total of £50m to its members over the past four years through its annual management charge (AMC) rebate structure.

The provider said its rebate charging structure means members with pension pots over £3,000 get a rebate of 0.1 percentage points on the standard management charge of 0.5%. Those with pots between ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Just one third confident in making retirement decisions, TPT says

Just one third confident in making retirement decisions, TPT says

Pension provider set to launch new DC proposition in H2 as it releases findings

Jasmine Urquhart
clock 23 April 2024 • 1 min read
Industry split on whether pausing AE contributions should be permitted

Industry split on whether pausing AE contributions should be permitted

Buzz survey finds no majority in opinion on allowing employees to halt their contributions

Martin Richmond
clock 23 April 2024 • 3 min read
Industry calls for ban on pension switching incentives

Industry calls for ban on pension switching incentives

PP survey finds 61% back calls for ban and voice concerns over need for the practice

Jonathan Stapleton
clock 23 April 2024 • 2 min read
Trustpilot