CPS Members’ and DC New Joiners Benefit Structures – reduction in Annual Management Charges from 1 April 2018
For members in the Defined Contribution (DC) New Joiners Benefit Structure and members with DC investment accounts (SPPP and/or AVCs) in the CPS Members’ Benefit Structure
Reduction in Annual Management Charges (AMCs) from 1 April 2018
The Trustee is pleased to advise that from 1 April 2018 AMCs are reducing by 0.03% and the lower AMCs will be applied to members’ investment funds. These reductions do not apply to the With Profits Fund and/or GPS Section members with DC investment accounts with Prudential, whose AMCs are unchanged.
The new AMCs that apply from 1 April 2018 are as follows:
|
Fund |
Total AMC
|
|
CNPP Global Equity Fund |
0.36% |
|
CNPP UK Equity Fund |
0.36% |
|
CNPP Global Equity (ex-UK) Fund |
0.36% |
|
CNPP Emerging Markets Equity Fund |
0.54% |
|
CNPP Sharia Law Fund |
0.72% |
|
CNPP Property Fund |
1.20% |
|
CNPP Multi-Asset Fund |
0.67% |
|
CNPP Pre Retirement Fund |
0.37% |
|
CNPP Index-Linked Gilt Fund |
0.36% |
|
CNPP Corporate Bonds Fund |
0.37% |
|
BlackRock DC Cash Fund |
0.40% |
|
BlackRock LifePath Flexi (default option) |
0.43% |
|
BlackRock LifePath Capital |
0.43% |
|
BlackRock LifePath Retirement |
0.43% |
The total AMC is a charge which is levied on your investment account. It comprises a separate charge for each of the administration and investment management of your account. The administration charge applied to your account will be explicitly set out in your annual benefit statement. The investment management fee is levied separately and will be reflected in the total value of your investment account.