Important information about your existing workplace pension plan
Following a value for money review across some of our workplace pension schemes, we’ve reviewed the charges and have decided to reduce some of these charges on certain plans.
Here’s you’ll find some Q&As which will help with any immediate questions you have, along with copies of letters we’ve sent and Q&As.
What is an Annual Management Charge?
We’ll make a charge for managing your investments. This management charge covers the costs of setting up the plan and ongoing administration. This charge is a percentage of the value of your investments.
What difference does this change make to my plan?
This change will have a positive impact on you plan. Due to the reduction in Annual Management Charge it means we deduct a reduced charge from your investments meaning the difference will remain invested.
Who are the Independent Governance Committee?
The Committee’s principle function is to act in the interests of Royal London’s workplace pension customers and pathway investors. Their job is to discern the value for money (VFM) we are providing to these customers and challenge us where they believe VFM needs to improve. There’s more information here.
