What are the pension fees?
mynestegg have a very competitive and simple charging structure. As a client you will pay the following:
Yearly Account Fee: 0.45%
Fund Fee: 0.12% - 0.23% (varies with risk)
Total Yearly Fee: 0.57% - 0.68%
We don't charge any initial or exit fees.
How has my pension performed?
For specific performance on the default pension fund please contact [email protected]
Here's how our other risk profile funds would've performed over the last 5 years:
Cautious: 11.50%
Balanced: 38.10%
Adventurous: 79.00%
Figures as at 1st November 2024.
What are the tax benefits of a pension?
The most common tax benefits of pensions are:
- Your pension can grow in value without being subject to tax on the profit that it makes (Capital Gains Tax)
- Your pension can receive interest contributions without being subject to tax on the income (Income Tax)
- You benefit from tax relief when you make contributions into your pension
- Pensions are exempt from Inheritance Tax
What are the steps needed to set up a new pension?
To create a new mynestegg pension, you need to go through the following steps:
- Complete the pension calculator
- Create your mynestegg account by providing us with the necessary personal information
- Setup the contributions into your mynestegg account
You can then monitor your account through the mynestegg portal and/or mobile app at your convenience.
How to create a new pension account?
To create a new pension account, the key bits of information you need to have to hand are:
- National Insurance number
- Home address
- Marital status
- Employment status
How to withdraw money from a pension?
mynestegg does not currently facilitate withdrawals from our pension product. You can access funds from within your pension from the age of 55 or 57 from 2028 onwards. If this is something you would like to do, you will need to transfer to a new pension provider who can process withdrawals.
This is something we are looking to introduce in the near future.
Can I set up a pension and an ISA?
Absolutely. Once you have setup a pension with mynestegg you can then open an ISA product. This can be done through your web portal or mobile app.