Cavendish Online have created a pension powered by FundsNetwork.
We are able to offer one of the lowest cost pensions in the market with an annual fee of just 0.25%.
You have access to over 3,500 funds on the FundSupermarket and only pay the fund charge and the annual fee of 0.25% (made up of a 0.20% platform fee to FundsNetwork and a 0.05% ongoing fee to Cavendish Online).
This reduces to an annual fee of 0.20% if the total value of all of your FundSupermarket accounts (Pension, ISA etc) exceed £200,000.
On typical funds the charges will be broken down as:
Fund Charge 0.75%, FundsNetwork fee 0.20%, Cavendish Online fee 0.05% = Total Charge of 1.00% per year
On typical tracker funds the charges will be broken down as:
Fund Charge 0.10%, FundsNetwork fee 0.20%, Cavendish Online fee 0.05% = Total Charge of 0.35% per year
More information on charges
Some fund managers impose a dilution levy or fund manager buy/sell charge on some of their funds, please check the fund's KIID document if you require clarification for a particular fund.
Additional fees apply to deals in Investment Trusts and Exchange Traded Products. Click here for further information.
Tracker funds start from 0.06% but the majority of funds on the platform will have a fund manager charge of 0.75% so typically the total charge on your pension will be 1.00%.
We believe that this offers you great value considering you will have access to over 2,900 of the most popular funds and you will have online access to view and analyse your pension. There are no initial charges, no switching fees and no exit fees.
The FundsNetwork Platform Charge and Cavendish Online Ongoing Fee will be calculated based on all holdings within the pension (including cash balances). They will be debited from your pension cash account if there is a sufficient balance or by selling units in your largest fund holding if there is an insufficient balance in the cash account.
The example below shows a Pension of £20,000 equally split between 4 funds:
|Fund Choices||Invested||Fund Charge||Platform Charge||Adviser Fee|
|Fidelity Index UK||£5,000||
|CF Woodford Equity Income||£5,000||£37.50 (0.75%)|
|Blackrock Global Bond||£5,000||£25.00 (0.50%)|
|Jupiter European||£5,000||£37.50 (0.75%)|
Therefore the total charge will be £103.00 plus the platform charge (£20,000 x 0.20% = £40) plus Cavendish Online's ongoing adviser fee (£20,000 x 0.05% = £10) which is £153 per year
Features & Funds