Charges and fees cutting 50 per cent from British savers' pension pots - Telegraph
Charges:
A 25-year-old worker putting £200 a month into the HSBC World Selection Personal Pension for 40 years and receiving typical returns would be charged a total of £248,650, according to industry figures.
The worker would be left with only £248,453, according to the Financial Services Authority, meaning that just over half the pension pot would be absorbed by costs.
Legal and General’s Portfolio Pension would cost £209,000 in charges and deductions, while Scottish Widows’ Individual Personal Pension Plan would cost £160,000 of the £497,103 accumulated with a typically expected 7 per cent return.
Ripoff.
Charges:
A 25-year-old worker putting £200 a month into the HSBC World Selection Personal Pension for 40 years and receiving typical returns would be charged a total of £248,650, according to industry figures.
The worker would be left with only £248,453, according to the Financial Services Authority, meaning that just over half the pension pot would be absorbed by costs.
Legal and General’s Portfolio Pension would cost £209,000 in charges and deductions, while Scottish Widows’ Individual Personal Pension Plan would cost £160,000 of the £497,103 accumulated with a typically expected 7 per cent return.
Ripoff.
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