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Pension single contribution - direct payment or via adviser

funkey_monkey · 2021-04-29 10:40:26

I am looking to put a lump sum into my pension. Doing it directly increases the charges by 0.1% to 0.6%. Doing it via an adviser results in no addition to the annual charge (0.5%) from the provider, but the adviser charges me 1.8% for adding the lump sum. The advisers annual charge is 0.9% I've tried working it out and it…

29-04-2021 11:40am

#1

funkey_monkey

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I am looking to put a lump sum into my pension.
Doing it directly increases the charges by 0.1% to 0.6%.
Doing it via an adviser results in no addition to the annual charge (0.5%) from the provider, but the adviser charges me 1.8% for adding the lump sum. The advisers annual charge is 0.9%

I've tried working it out and it seems that paying directly myself and always over the life of the pension paying the additional 0.1% is better. Even if the compounded interest is added to the additional 0.1% increased fee.

Is my sums correct?

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