Cavendish Online charges a one-off fee of £35.00 for setting up your Stakeholder or Personal Pension.
Once set up, the only charge applied to your Pension scheme is the Annual Management Charge (AMC). The saving Cavendish Online offers on each pension company’s usual AMC can be seen on the individual company pages.
The saving Cavendish Online offers on each pension company's usual AMC can be seen below:
Annual Management Charges
Aviva - Stakeholder Pension (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%|
* Not Tiered means the same Annual Management Charge will be applied to the whole fund once the threshold is reached.
To apply for a NEW PENSION please post all the following to 'FREEPOST Cavendish Online':
3. A cheque for your contribution and / or direct debit mandate form(s), made payable to the pension company.
4. Money Laundering Verification Documents*
5. Our £35 fee (cheque to Cavendish Online or pay online). £40 if you would like your ID documents returned via registered post.
Please note: If you apply for 3 or more Aviva pensions at the same time (i.e. we recieve them in the same envelope) we will cap our fee at £100 for these applications.
If you are also transferring the proceeds of an existing pension scheme please substitute the above application form (1) with the transfer form located below (1) in addition to the transfer valuation and/or discharge forms and our transfer fee:
2. A Transfer Valuation and / or Discharge Forms**
3. Our transfer fee***
To apply for certain products through Cavendish Online we will require money laundering identification. We will need to see original or certified (#) documents to prove your identity and your address. If you are applying jointly for a product we will need to see identification documents for each of you.
Either your passport or a UK driving licence would be suitable as proof of your identity.
With regards to your address, we suggest a recent bank statement or utility bill (within the last three months, and unfortunately not a mobile phone bill) These documents must have been posted to your home address, we cannot accept them if they have been printed from the internet. If you do not have a bank statement or utility bill then we can accept your passport to verify your identity and your UK driving licence to verify your address.
Company MLI: If your employer is paying into your pension then we will also require a letter from
the company on headed paper stating that they are paying into your plan and listing the main signatories/directors. We also require proof of the company address, i.e. an original or certified copy of a utility bill or bank statement dated within the last 3 months.
Pension for a minor: If you are setting up a pension for someone under 18 years old then please send money laundering information for them. We require the original or certified copy# of either their birth certificate OR passport. We will also require full MLI for the person paying the premiums.
#A certified copy is where a person of authority (solicitor, teacher, director, post office clerk etc) signs a copy of the original document stating that it is a true copy of the original document. They will need to sign and date the document and add their name and position. The person certifying the document must not be related to you or in a relationship with you or living at the same address as you.
Speak to your existing pension provider and let them know you are transferring the pension. They can then post these forms out to you. You may also want a comparative current valuation to check if you will lose any additional benefits by moving the money. The discharge forms can be obtained mid-transfer or can be requested by your new pension provider if you cannot access these forms although sending them in initially will speed up the process.
£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)