How much does a 1% charge really cost?

More than 1% of what you pay in. The charge comes off the whole fund every year, and the money taken stops growing. €10,000 plus €500 a month growing at 6% for 30 years reaches €544,691.40 with no charge and €446,292.99 with 1% a year: 18% less.

How are charges taken?

Fund and pension charges are taken from the fund as they build up. We take a twelfth of the yearly rate from the balance each month. So 1% a year on €10,000 with no growth takes €99.54 in a year.

Investing

What charges cost your pension or fund

See how much a yearly charge takes from your pension or fund over the years, and what a cheaper one would leave you.

Self-assessment tool. The figures come from your own answers. It isn't advice, and you're responsible for what you file or claim. heypenny.ie is a trading name of Kinch Press. Read the disclaimer.

Common questions

How much does a 1% charge really cost?: More than 1% of what you pay in. The charge comes off the whole fund every year, and the money taken stops growing. €10,000 plus €500 a month growing at 6% for 30 years reaches €544,691.40 with no charge and €446,292.99 with 1% a year: 18% less.
How are charges taken?: Fund and pension charges are taken from the fund as they build up. We take a twelfth of the yearly rate from the balance each month. So 1% a year on €10,000 with no growth takes €99.54 in a year.

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