This is a charge for looking after the investment. This may vary between funds and may change throughout the lifetime of the Retirement Account. Where your client has invested in PruFund, this charge can also be referred to as an Annual Management Charge.
You can download our Fund List to see the Yearly Charges that apply.
There are other costs that aren’t covered by the yearly charge. These can include, for example, maintenance costs for property investments and costs associated with investing in infrastructure, such as utilities, transport and renewable energy. These costs can vary over time.
For external funds, they are described as "ongoing charges" and quoted as a percentage in the Key Investor Information Documents (KIIDs).
Additional information on Further costs for our PruFund range is available in the PruFund Fund Guide.
For all fund types, the charge is calculated daily and reflected in the fund's price.