FundSupermarket Pension - Frequently Asked Questions


How do I apply for this pension?

Please click here to visit our apply page for a full explanation of how to apply.

If you still have any queries then you can either email the administration team on or call 03456 44 25 44.

What is the FundSupermarket Pension?

This pension is a low cost pension providing access to over 3,300 different funds from 85 different fund providers.

It offers a full range of tax benefits including tax relief on contributions, tax-efficient growth for your investments and tax advantages when you retire.

There are no set up fees and you will only be charged the fund manager charge, an annual 0.20% platform fee and a 0.05% Cavendish Online fee making this one of the lowest cost pensions available.

You will be able to start, stop, increase or decrease (*) your payments into the pension and have the option to transfer any existing pensions across. If you decide to transfer away in the future then there will be no exit fees.

You will have secure access to your online account to track the progress of your pension. You will be able to view and analyse your pension online.

* - if you wish to make a monthly contribution the minimum amount is £50 gross (£40 net)

What are the minimum contributions?

  • Regular monthly gross contribution of £50 (£40 net). 

(In this example you would set up a regular monthly contribution of £40 and £10 would then also be paid by HMRC).

  • Single gross contribution of £1,000 (£800 net).

(In this example you would pay a single contribution of £800 and £200 would then also be paid by HMRC).

  • Transfers £10,000. (This can be made up of several transfers).

What are the maximum contributions?

  • As long as you are resident in the UK for tax purposes and under the age of 75 then you will be able to contribute as much as you earn up to the annual allowance of £40,000.
    Contributions over this amount will be taxed as income.
  • Individuals with no earnings or earning less than £3,600 can still get basic tax relief on contributions up to £3,600 (£2,880 net).
  • The lifetime allowance of £1 million will also apply.

What are the charges and when are they taken?

There are 3 charges in total:

  • Fund Manager Charge (taken out of the daily price of the fund)
    (between 0.07% and 1.25% but typically 0.75%*).
  • Platform charge 0.20% (taken monthly in arrears). This reduces to 0.15% if the total value of your FundSupermarket accounts (Pension, ISA etc) exceeds £200,000.
  • Cavendish Online Fee 0.05% (taken monthly in arrears)

*over 90% of funds have a Fund Manager Charge of 0.75% or less

There are NO initial charges, NO switching fees and NO exit fees.

For more information on the charges please visit the following page:

If you further charging queries please email

What can I invest in?

Unlike many traditional pension schemes, this pension will allow you to spread your savings across a wide variety of different funds. There are over 3,300 funds from over 85 providers and so there are plenty of options. You will also have the option to hold a percentage of your money in the pension cash account.

You will be able to put together an investment strategy suitable for your personal goals and circumstances and have the flexibility to switch or funds or change the percentage invested in each fund.

To see the various funds available please visit our Fund Research section. 

You may also want to consider using our Model Portfolios.

There are 12 model protfolios in total and include low, medium and high risk levels for Income, Growth, Ethical or Tracker funds. 

When will I be able to take out my pension?

For the time being it is not possible for clients of the Cavendish Online FundSupermarket Pension to take withdrawals from their pension by going into drawdown. This is because we are not permitted to provide our clients with advice relating to drawdown.

If you wish to drawdown from your pension you will need to transfer or re-register your pension away from the Cavendish Online FundSupermarket Pension to another provider who can provide drawdown. We do hope to be able to provide our clients with access to drawdown at some time in the future.

What if I change my mind?

You have 30 calendar days from the date you receive your account opening confirmation document to cancel your payment. If you make any single lump sum contributions and/or additional transfers into your account you will have up to 30 calendar days from receiving the transfer/contribution confirmation to change your mind.

If you choose to make regular monthly contributions, only the first payment that you make will have cancellation rights.

If you decide to increase the level of payment in the future you will not have a right to cancel that payment. However, you can reduce or stop future payments at any time.


Cavendish Online FundSupermarket Pension:


Take out a new pension or transfer your existing pension and lower your charges.