What are the charges?

What does it cost?

When you have a pension there are charges for investing in funds. These charges cover the cost of managing your investments.

The amount you will be charged depends on the investments you choose. The charges for each investment option are explained in the member guide. 

Charges are regularly reviewed and may be increased to reflect increases in overall costs and/or changes in the assumptions made. Any increases will be fair and reasonable.

Rebates

The scheme trustees have negotiated a discount, which means that Standard Life will rebate 0.77% of the fund management charge and additional expenses by adding extra units to your fund each month.

If you leave Deutsche Bank, the scheme rebates will continue.

Types of charges

Fund management charge

The fund management charge (FMC) is a charge for managing your pension and investments. The charge is built into the unit price of each fund your pension invests in and is deducted daily. Please see the Member guide (PDF, 727KB)  for more information about the charges that apply to you.

Even if you stop making contributions into your fund, you'll still be charged the FMC because the money you've invested will still be under management. This will reduce the value of your fund over time.

Additional expenses

Additional expenses may be deducted from some funds. They include items such as Trustees’, registrars’, auditors’ and regulators’ fees. And, where a fund invests in other underlying funds, they may include their underlying management charges.

The additional expenses relate to expenses incurred during the fund management process, so they will regularly increase and decrease as a percentage of the fund, sometimes significantly. Where expenses arise within a fund they have been taken into account in the calculation of the price.

Additional expense figures may be rounded to two decimal places. An additional expense charge may apply but if it's rounded to two decimal places it may show as 0.00%.

Additional expenses are not guaranteed. All charges are regularly reviewed and may be changed in the future.

Fund switching

There may also be charges for switching funds.

Cost of advice

Deutsche Bank may have appointed an adviser for the DB (UK) DC Pension Plan, which means charges may be deducted from your fund each month.

You’ll find more information about the different types of charges that may apply to your company pension in the member guide – or you can ask your employer for more information.

If you decide to get your own financial advice from a financial adviser, then there may be a charge for this. You'll be able to find out more about this from your financial adviser.

More about getting financial advice

Important documents

To help you make an informed decision we've provided you with important information that you should read. You should print or save copies of these documents for future reference.

Read this guide for more information about the DB (UK) DC Pension Plan.

Member guide (PDF, 727KB)

This document provides more details about the Standard Life Master Trust.

Member outline (PDF, 264KB)

The appropriate summary document (to your membership class) is to be read along with the Member outline document.

Plan summary – class A members (PDF, 260KB)

The appropriate summary document (to your membership class) is to be read along with the Member outline document.

Plan summary – class B members (PDF, 266KB)

Read this guide for more information on the different ways you can pay into your pension, and the tax benefits and tax charges which can apply.

Information about tax relief, limits and your pension (PDF, 99KB)

Complete this form to nominate lump sum death benefit payments.

Payment of lump sum death benefit (PDF, 87KB)

This form is used to request for the scheme to pay the Annual Allowance Charge.

Annual Allowance Charge form (PDF, 90KB)