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Review of member contract charges
It is our normal practice to review our Defined Contribution (DC) and Additional Voluntary Contribution (AVC) member contract charges on an annual basis. As Consumer Price Index (CPI) increased by 1.6% in the year ending September 2012, it is proposed to increase our range of contract charges by a maximum of 1.6%. The average increase across our range of contract charges is 1.3%
This Contract Charge covers all the costs associated with administering the member’s pension.
These new rates will take effect from the schemes next renewal date. The exact Contract Charge that applies to a scheme depends on the pension type and how contribution information is received. A typical Contract Charge of €45.48 per annum (€3.79 per month) for 2012 renewals will now be €46.20 per annum (€3.85 per month).
Please contact your Financial Advisor or Irish Life Corporate Business Account Manager should you have any questions.
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