Overwhelmed by all the pension jargon? Fear not, our pension glossary has you covered. All the important terms and acronyms explained right here.
What are Annual Management Charges (AMC)?
The fund manager that invests your pension pot will impose an Annual Management Charge (AMC), which covers the cost of investing, administering and running your pension. The AMC will be charged either as a percentage of the value of your pot or (more rarely) as a fixed fee.