What funds are available
Below is a list of the funds available and their costs and charges.
When looking at the level of costs and charges met by members we take into account the following: A charge This includes the Annual Management Charge (‘AMC’) that is deducted from funds to cover the management costs and additional expenses incurred in running the funds. Together with the AMC this is known as the Total Expense Ratio (‘TER’). A transaction cost This includes day-to-day fund expenses incurred within the fund as a result of buying, selling, lending or borrowing of investments. They include explicit costs (such as taxes, fees and commissions) and implicit costs (such as market timing) which are separate from quoted TERs. The way transaction costs are calculated may mean they are negative, which would reduce the total amount you pay to invest in a fund.
| Fund name | Charge | Transaction Cost | Total costs and charges paid by members |
|---|---|---|---|
| Phoenix Life Traditional With Profits | -1.50% | 0.55% | 0.0024% |
| Phoenix Life Unitised With Profits | -0.50% | 0% | 0% |
| Phoenix Life Managed Fund | 1.50% | 0.52% | 0.1737% |
| Phoenix Life Cash Deposit Fund | -2.00% | 0.50% | 0.0013% |
These figures are based on
- Phoenix Life have been unable to produce SMPI assumptions as at 30 June 2023, as such the Trustees have used the SMPI assumptions as at 30 June 2022, and will continue to work with Phoenix Life to produce updated illustrations.
- Information on charges provided by Phoenix Life up to 30 June 2023.
- Assumptions as to how your pensions savings may grow, which are the same as those used in the annual benefit statements sent to members for 2023.
- Some funds (Traditional With Profit funds) do not explicitly state the charges so we have not been able to incorporate these into the illustrations. However the growth rates used do take into account that investment returns are calculated after any charges have been deducted.
Behind the scenes
To show the impact charges could have on your pension savings over time we have prepared a number of illustrations based on some example scenarios.
The Trustee(s) have produced these illustrations in line with February 2018 guidance from the Department for Work &
Pensions to help members understand the costs and charges that apply to their pension savings.
Read on to find out more about what goes into these illustrations, including how we’ve calculated the figures and the assumptions we’ve used.
Funds and example scenarios
Read on to find out more about the funds available and their charges as well as look at the impact the charges may have based on some example scenarios.
Investment performance cannot be guaranteed and fund values can go down as well as up. If you are thinking about changing the fund (s) you are invested in, or would like more guidance around the options available to you, we recommend that you seek advice from an Independent Financial Adviser (IFA).