Important information about some of our existing workplace pension schemes

We’re reducing the charges on some workplace pension schemes

Following a value for money review across some of our workplace pension schemes, we’ve reviewed the charges and have decided to reduce some of these charges on certain plans.

Here’s you’ll find some Q&As which will help with any immediate questions you have, along with copies of letters and Q&As that we’re sending employers and customers.

Adviser materials

There is no impact to your relationship. You’ll remain the appointed servicing adviser. 

The reduction in Annual Management Charge will not affect any agreed commission payments.

Employer materials

Any new employees that join the scheme will be on the appropriate level of Annual Management Charge. 

The Committee’s principle function is to act in the interests of Royal London’s workplace pension customers and pathway investors. Their job is to discern the value for money (VFM) we are providing to these customers and challenge us where they believe VFM needs to improve. There’s more information here.

Customer materials

We’ll make a charge for managing your investments. This management charge covers the costs of setting up the plan and ongoing administration. This charge is a percentage of the value of your investments. 

This change will have a positive impact on you plan. Due to the reduction in Annual Management Charge it means we deduct a reduced charge from your investments meaning the difference will remain invested.

The Committee’s principle function is to act in the interests of Royal London’s workplace pension customers and pathway investors. Their job is to discern the value for money (VFM) we are providing to these customers and challenge us where they believe VFM needs to improve. There’s more information here.

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.