Retirement Services Fees
At NorthStar, we are committed to providing clear and simple fees for all our services. When you plan for your retirement with us, you will always know how much you will be charged and can be confident that you will be paying some of the most competitive rates around.
We provide a full range of retirement planning services. Whether you need advice on starting a pension, reviewing existing pensions, taking an income when you reach retirement or managing your pension money into old age, we have a service for you.
Our main retirement services and fees are summarised below:
Starting a Pension
To provide a ‘Pension Report’ with recommendations to start a pension, the fee is 1% of the amount to be invested (minimum fee £900). This is an implementation fee and is only payable should you wish to proceed with the advice given. A ‘Pension Report’ will provide information and advice on which pension provider to use, recommended contribution levels, your optimal investment strategy and what you can expect your pension to provide you in retirement
Pension Review
To provide a ‘Pension Review Report’ covering analysis and advice on whether to switch or consolidate your pensions, the fee is 1% of the amount to be transferred (minimum fee £900). This is an implementation fee and is only payable should you wish to proceed with the advice given. A ‘Pension Review Report’ will provide a full analysis of your existing pensions covering charges, performance and features, advice on whether to switch or consolidate your pensions, recommended contribution levels, your optimal investment strategy and what you can expect your pension to provide you in retirement.
Pension Review (‘Defined Benefit’ Pensions)
To provide a report covering analysis and advice on whether to transfer a ‘defined benefit’ (also known as ‘final salary’) pension, the fee is 1% of the amount to be transferred, capped at £3,000.
Retirement Strategy & Pension Review
To provide a ‘Retirement Strategy Report’ including a full pension review, the fee is £800 plus an implementation fee of 1% of any amount to be transferred or annuitised (minimum fee £900). This is an implementation fee and is only payable should you wish to proceed with the advice given. A ‘Retirement Strategy Report’ sets out a strategic overview of your retirement strategy and will typically include an overview of your retirement assets, analysis showing the earliest time you can afford to retire, whether you can meet your retirement income requirements and how a financial disaster could impact your retirement. It may also cover how best to take your retirement income, a strategy for releasing tax-free cash and/or a strategic review of the assets to fund your retirement. It will also provide a full analysis of your existing pensions covering charges, performance and features, advice on whether to switch or consolidate your pensions, recommended contribution levels, your optimal investment strategy and what you can expect your pension to provide you in retirement.
Retirement Strategy
To provide a ‘Retirement Strategy Report’ where no pension review is required, the fee is £900. A ‘Retirement Strategy Report’ sets out a strategic overview of your retirement strategy and will typically include an overview of your retirement assets, analysis showing the earliest time you can afford to retire, whether you can meet your retirement income requirements and how a financial disaster could impact your retirement. It may also cover how best to take your retirement income, a strategy for releasing tax-free cash and/or a strategic review of the assets to fund your retirement.
Ongoing Pension Investment Management
To provide ongoing pension investment management, advice and recommendations, fees are based on the type of pension product held and service required. Pension investments in the NorthStar portfolio range have an annual investment management fee of 0.9%. Pension investments in simple investment products with a limited fund range have an annual investment management fee of 0.6% and pension investments with any other provider have an annual investment management fee of 1%. A fee of 1% is payable on any ongoing regular contributions to your pensions. Pensions in ‘drawdown’ are charged in the same way.
All Other Retirement Services
For any other specialist retirement services, we will quote a price on enquiry.
Complete Flexibility
Remember that you can start or stop our retirement services at any time. We never tie you into any form of contract with us. Don’t worry if you are unsure which of our retirement services would suit you best. You can discuss your requirements during your introductory phone call where a NorthStar financial planner can help you work out which of our services are right for you.
Find out More About Our Other Fees
Our commitment to clear, fair and transparent fees means you will always know how much you will pay before agreeing to any of our services. Find out more about our fees for other services:
Investment services fees
Our commitment on fees
At NorthStar, we’re committed to providing clear and simple fees for all our services.
We believe in total transparency so you’ll always know what you will pay.
No hidden charges, no additional fees, no nasty surprises – that’s a promise.
Awards, Accreditations & Trade Associations
NorthStar is proud to be a member of the leading financial planning trade associations. Through a continued commitment to adhere to the highest professional standards and deliver exceptional service, NorthStar has received a number of awards and professional accreditations.