<aside> ⚠️ This has now been superceded by Prosper Account Charges v3.0
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Version 1.1
26 Apr 2023
Here is a breakdown of the fees for your ForMore personal pension.
These fees will be taken from the money you invest.
<aside> 🎉 As a Founding Member, you qualify for the tier one offer. See full terms here.
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| Fee | What is this fee for? | Amount | Founding Member Tier One Only |
|---|---|---|---|
| ForMore fee | We charge this fee to manage your ForMore account over each year. | 0.25% of your pension total | 0% |
| Trading charge | This fee is for when you buy or sell in an Exchange Traded Fund (ETF). | ||
| There is no fee for Non-Exchange Traded Funds (eg. Mutual Funds). | 0.04% of the value of the trade, or a minimum of £4 | £0 | |
| Fund/ETF product charges | When you invest in Funds and ETFs, you normally incur costs within the fund namely the Ongoing Charges Figure (OCF), Transaction costs, and Incidental costs. |
The fee is taken from the money you put into the investment over each year. The specific details can be found on the investment product page in the ForMore app or in the Key Investor Information Document (KIID). | Varies depending on the investment product | A select number of funds are refunded, see full list |
The ForMore fee and Fund/ETF product charges are calculated daily and charged monthly in arrears. Any fees charged from pricing errors will be corrected as soon as we are aware of them.
ForMore trading charge is calculated and charged when placing a buy order or sell order.
Your uninvested cash will sit in the Custodian’s client money bank account (Lloyds) and earn interest at 1%. This rate may change on a regular basis. The amount you will be paid will be published on your statement, which you can find in the app. ForMore is entitled to receive and retain the difference between interest a bank pays us on the total amount of cash held and the interest we pay you.