Charges, in more detail

A charge can be set at three levels. The plan’s rate for each kind of pot, under the assumptions you set, covers every pot of that kind. A pot can have its own rate instead, and a holding adds anything it charges above its pot.

A new plan starts with charges on. A pension starts at the average for workplace schemes, a taxable account and an ISA at the middle of what index funds charge, and bank savings at nothing. Turning off “Apply investment charges” removes them.

The charge comes off each pot at the start of the year, before growth. A year you have logged is charged the same way, and still closes on the balances you recorded.

The “What charges cost” tab splits the cost into “Handed over” and “Growth foregone”, and shows how much smaller the plan ends up. Its toggle shows each figure in future money or today’s money. It also gives the reduction in yield, the measure regulated illustrations use.

“Another cost level” sets one charge of your own beside the plan’s, applied to everything held, and draws the two side by side. For a wider what-if, comparing plans sets two whole plans against each other.