Fees and Charges
Penny charges a fee of 0.75% per year of the value of your pension. This fee is called the Annual Management Charge (AMC).
Penny does not charge any other fees.
When your old pensions transfer into your new Penny Pension, you will stop paying fees to your old pension providers, and only pay Penny’s fee.
We are unable to assess if an existing provider is charging you less than Penny will charge, so you could end up paying more. We recommend that you research the fees of your existing pension policies in order to ensure that transferring your pensions to Penny is right for you.
AMC
0.75%
(Annual Management Charge)
The AMC is an annual charge on the total value of your pension plan. This fee is calculated daily and automatically taken from your pension at the end of each month. Please note: if you choose Penny's Ethical Fund, then the AMC is 0.78% per year.
Transfers
✓ Free
Contributions
✓ Free
Withdrawals
✓ Free
Switching Fund
✓ Free