Cavendish Online offer some of the lowest cost pensions in the market, meaning you get more for your money.

Our service is designed for clients who have done their own research and know which pension they would like to invest in. We will happily arrange the pension although we cannot offer any financial advice. Cavendish Online is strictly an ‘execution-only’ service. It is through being execution only that we can offer you such highly competitive charges for your pension.

If you’re unsure about the suitability of any particular financial product you may wish to seek independent financial advice from a fee-based IFA.

The Cavendish Online FundSupermarket Pension 

The Cavendish Online FundSupermarket Pension offers a great range investment options at an extremely competitive cost.

You have access to over 3,500 of the most popular funds 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). 

There are no initial charges, no switching fees and no exit fees

There are THREE explicit charges you will pay on the Cavendish Online FundSupermarket Pension:

Fund Manager charge

This charge will vary according to the fund you wish to buy.

Tracker funds start from 0.06% but the majority of funds on the platform (over 90%) will have a fund manager charge of 0.75% so typically the total charge on your pension will be 1.00%. 

 

Please click here to identify a specific fund charge.

FundsNetwork platform charge

0.20% per annum

Reduced to 0.15% on the entire balance if you have a combined value of more than £200,000 in your ISA, Investment and Pension accounts. These need to be FundsNetwork accounts that are linked to Cavendish Online.

Cavendish Online ongoing fee 0.05% per annum

 

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 Shares, Investment Trusts (IT's) and Exchange Traded Funds (ETF's). Click here for more information.

The charges that apply to shares are generally the same as for Investment Trusts (IT's) and Exchange Traded Funds (ETF's) that are already available on the platform. 

What charges will I pay? 

Platform Charge - You will continue to pay the platform charge based on the value of on any shares, IT’s, ETF’s or funds that you hold with us, this being 0.20% per annum, reduced to 0.15% on the entire balance if you have more than £200,000 in your account(s). 

Cavendish Online Ongoing Fee - You will continue to pay our fee of 0.05% per annum based on the value of on any shares, IT’s, ETF’s or funds that you hold with us.

Fund Manager Charge - If you hold funds, IT's or ETF's then there will be a fund manager charge (more commonly referred to as an Ongoing Charge Figure or OCF) that the fund manager will take for managing the fund for you. These charges will not apply to shares.

Dealing Charge - You will pay a dealing charge when you buy, sell or switch shares, IT’s or ETF’s. We have listed these in more detail below. Please be aware that these charges do not apply to any deals that you place in funds, i.e. unit trusts or OEIC’s (Open Ended Investment Companies).

  • ISA's and Investment Account dealing charges - For any purchase or sale instruction that you submit from your ISA, JISA or Investment Account you will be charged a dealing fee of £10 per deal, this will allow you to submit a real time (market order or limit order) deal . This only applies to shares, IT’s and ETF’s, it does not apply to funds (unit trusts or OEIC's).
     
  • Pension dealing charges - for any new contribution that you submit directly into an IT or ETF you will be charged a dealing fee of £3.
    However if you request to switch out of an existing fund or cash in your pension you will be charged a dealing fee of £1.50 for any switches into or out of an IT/ETF.
    If you requested to switch out of one IT/ETF in to another IT/ETF, you would be charged a total of £3, ie £1.50 to switch out of the IT/ETF and £1.50 to switch into the other IT/ETF.
    Pension deals are aggregated and placed twice a day by FundsNetwork, generally at 9am and 3pm, they are not placed in real time.
     
  • If you are making regular contributions into your ISA, Investment account or Pension, ie you have a monthly savings plan or dividend reinvestments (or tax relief in your pension), these will incur a dealing fee of £1.50.

The only exception is if you have an account that has not been migrated to the new platform. For these non-migrated accounts you will have access to a smaller selection of IT’s and ETF’s. The dealing fee will be at a rate of 0.10% of the value of the deal. As soon as these accounts are migrated to the new platform, the dealing charge will change from 0.1% to £10 for deals or £1.50 for regular contributions. Please contact us if you are not sure if any of your accounts have been migrated to the new platform.

Performance Fee - A handful of funds and IT's also charge a performance fee. Please check the fund manager fact sheet or the Key Investor Information Document (KIID) for details of this.

Are there any additional charges? 

Please be aware that the additional charges listed below only apply to shares, IT’s and ETF’s, they do not apply to deals in funds (unit trusts or OEIC's).

Stamp Duty Reserve Tax (SDRT)
When you buy a share or IT that is domiciled in the UK you will be charged SDRT at the rate of 0.5% of the value of the transaction. If you buy Irish shares the stamp duty will be 1%. 

SDRT is not charged on ETF's or shares listed on AIM (Alternative Investment Market).

PTM Levy
If you buy or sell more than £10,000 of a particular share, IT or ETF you will also be charged an additional £1, this is for the UK Panel of Takeovers & Mergers Levy.

What are the charges for receiving dividends? 
If you request that any dividend from your shares, IT’s or ETF’s is reinvested back into the same security you will incur a dividend reinvestment charge of £1.50 per deal, this is instead of the £3 dealing fee. Neither of these charges apply to funds (unit trusts or OEIC's).

If you request that the dividend is held as cash in your account or is paid out as cash to your linked bank account, you will not be charged this fee.

What are the charges for regular monthly contributions? 
You will be charged £1.50 for a regular monthly contribution into a share, IT or ETF, this is instead of the £10 dealing fee.

Neither of these charges apply to funds (unit trusts or OEIC's).

Bid / Offer spread
Please also be aware that all shares, IT's and ETF's have two different prices, the bid price and the offer price.
Bid price - is the price at which you will be able to sell at.
Offer price - is the price at which you will be able to buy at.
The difference between the two is known as the bid/offer spread. For highly liquid companies such as those in the FTSE100, the bid/offer spread will usually be very small. For less liquid companies such as those quoted on the Alternative Investment Market (AIM) the bid/offer spread could be much higher. The spread can change when stock markets are volatile and also can be higher when stock markets first open in the morning and when they close later in the day.
You can check the bid/offer spread by logging in to your account and finding the product that you're considering investing in on the Investment Finder tool where you will see the Sell (Bid) and Buy (Offer) prices.

How do I pay the charges on my pension account?

You don’t need to worry about manually paying the charges on your Cavendish Online FundSupermarket pension.

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.

If there is an insufficient balance in the cash account, the charges will be paid automatically by selling units in your largest fund holding.

When are the charges taken?

Charge When taken
Fund Manager Charge Taken out of the daily price of the fund. 
FundsNetwork platform charge Taken monthly in arrears.
Cavendish Online ongoing fee Taken monthly in arrears. 

 

If you have further charging queries please email admin@cavendishonline.co.uk

Stakeholder and Personal Pensions

Cavendish Online can also set up Stakeholder Pensions through Aviva, or Personal Pensions through Aviva

We do not take any commission to set up these pensions. Instead, we simply charge a one-off set-up fee of £35 to start your pension.

Similarly, a repension will cost a one-off fee of £70, representing the new plan and transfer of the old one into the new one.

Depending on the pension you select, there will be an Annual Management Charge (AMC) applied to the fund. These are explained on a provider by provider basis below. 

Aviva Stakeholder Pension

Aviva

Aviva Stakeholder Pension

Annual Management Charges

Aviva

(Not Tiered*)

Pension Fund

Using Cavendish

Direct to Aviva

£0 - £49,999

0.55%

This product is not available 
directly with Aviva. 

£50,000 to £99,999

0.50%

Over £100,000

0.45%

 

* Not Tiered means the same Annual Management Charge will be applied to the whole fund once the threshold is reached.

Transfer fees

If you are transferring an existing pension then the following charges will also apply:

£70 = New Pension Application + Single Transfer                                   

£75 = New Pension Application + Single Transfer + Recorded Delivery

£100 = New Pension Application + 2 or more Transfers (Inc RD) (Fees capped at £100)

Aviva Personal Pension

Aviva

Aviva Personal Pension

Annual Management Charges

Aviva

(Not Tiered*)

Pension Fund

Using Cavendish

Direct to Aviva

£0 - £19,999

0.70%

This product is not available directly through Aviva.


Only available through Financial Advisers 
or other brokers where a fee 
would be added to the pension.

 

£20,000 to £49,999

0.45%

Over £50,000

0.40%

Some funds may have an additional fund charge. Please see the fund guide for full details.
* Not Tiered means the same Annual Management Charge will be applied to the whole fund once the threshold is reached.

Transfer fees

If you are transferring an existing pension then the following charges will also apply:

£70 = New Pension Application + Single Transfer                                   

£75 = New Pension Application + Single Transfer + Recorded Delivery

£100 = New Pension Application + 2 or more Transfers (Inc RD) (Fees capped at £100)

Have any more questions regarding Pension fees?

Why not take a look through our Frequently Asked Questions section. We update this regularly to ensure you have all of the information you need to make an informed decision when using our service.

Alternatively, you can email the team using info@cavendishonline.co.uk or call us on 03456 44 25 44

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