Navigator - Personal and Company Pension

Your contributions buy units in a pension fund. The percentage of your contributions invested will be shown in your plan schedule which you will receive in your Welcome Pack after you start your plan. This amount will buy units in each fund you choose. For regular contributions, the percentage of your investment that we pay into the fund could vary between 97% and 100% (in other words, our charge could be up to 3%). For single contributions, this percentage could vary between 97% and 100% (a charge of up to 3%).

The charges applying to extra regular and single contributions you pay in the future could be different to the charge on your initial contributions. You should check with your Ulster Bank Financial Planning Manager as to what this will be.

If you reduce your regular contributions in the future, the percentage of your contributions we invest after the reduction may be lower, you should check with your Ulster Bank Financial Planning Manager as to what the new percentage invested will be for your regular contributions before you make any reduction. 

If you stop making contributions including where regular contributions have been suspended or the plan has been paid-up, we will take an extra yearly plan charge of 0.25% a year from the fund you build up with your regular contributions.

The yearly plan charge if it applies, will be shown on your plan schedule. We take it as a percentage of your fund value and it could be up to 0.5% a year. We cancel units every month to pay this charge. If it appears on your schedule, it applies as well as the yearly fund charge.

The yearly fund charge is taken as a percentage of your fund value at a given time. It can be different for each fund you are investing in. More information can be found on our Navigator Personal and Company Pensions brochure.

There is a Plan fee of €4.63 charged every month that will increase each year in line with the consumer price index.

If you transfer any money from your plan in the first five years, you will have to pay an exit charge on the value of your regular or single contribution fund.The exit charge applies for five years from the start of your investment for your initial contribution. If you make regular or single contributions the exit charge will also apply to the fund built up by your top up amount, for five years from the date you pay the top up amount.

We will take any government levie due and pass them directly to the Revenue Commisioners. These levies will be taken from your fund.

The Pensions Authority charges a fee every year for company pensions. This charge is currently €8 a year but could change in the future. We will take this charge every year from company pensions. The Pensions Authority currently do not charge a fee on personal pensions.

More information is available here or you should speak to an Ulster Bank Financial Planning Manger if yon have any questions.