Pension App Pension Scheme

Common Questions & Useful Information

The following is a list of common questions regarding the Pension App pension scheme, and other information you may need or wish to know. If you've received a questionnaire from your current pension provider(s) regarding our pension scheme, you may use the information below to help you complete this.

What are the fees?

Pension App total annual fees and charges are 0.82% of pension fund value per year.

Is there any initial fee or charge to combine or transfer my pensions to Pension App?

Only when pensions are found and transferred. 0.6% is deducted for all completed transfers. For example, if you were to transfer £1,000 to Pension App the initial fee would be £6.

How will my pension funds be invested?

We have four Financial Conduct Authority authorised and regulated funds you can choose between.

• Ultra-Cautious - BlackRock MyMap 3
  An ultra-cautious portfolio is for someone who is willing to accept small, sporadic losses, the purpose of the portfolio is to preserve capital whilst generating a slightly higher return than you would receive from a high street bank.

• Cautious - BlackRock MyMap 4
  A cautious portfolio is for someone who is willing to accept small, sporadic losses, the purpose of the portfolio is to preserve capital whilst generating a slightly higher return than you would receive from a high street bank.

• Balanced - BlackRock MyMap 5
  A balanced portfolio is for someone who wishes to take a balanced approach between making a return on their investment and taking the risk of the value of the fund depleting. This portfolio will normally fluctuate in value more than the cautious portfolio but offer greater returns in the medium to long term, whereas it offers greater stability than the adventurous portfolio, however the long terms would not normally be as great.

• Adventurous - BlackRock MyMap 6
  An adventurous portfolio is for an investor that is looking to maximise their investment returns over the long term and is less concerned about the short-term volatility of their investments.

Are the pension investments UK registered and authorised in the UK by the Financial Conduct Authority (FCA)?

Yes, all the Blackrock Pension Investment Funds we will use are UK registered and authorised in the UK by the FCA.

Are there any complicated, unorthodox, unclear investments or offshore bonds & property in the pension fund?

No. The funds are standard multi-asset (mixed) pension funds.

Who are the Pension Provider/Administrators?

The Scheme is administered by Quai Investment Services Ltd.

FCA registration number: 922590

Registered address:
16 Tesla Court,
Innovation Way,
Peterborough,
PE2 6FL

Is Pension App authorised and regulated by the Financial Conduct Authority?

Yes - Pension App Ltd. is an Appointed Representative of Direct Wealth Management Ltd. who are authorised and regulated by the Financial Conduct Authority.

FCA registration number: 986413

Registered Address:
Riverside,
Mountbatten Way,
Congleton,
CW12 1DY

What type of pension scheme is Pension App?

SIPP (Self Invested Personal Pension)

How was I first contacted?

Pension App doesn’t contact customers initially or make cold calls. You sign up directly, create an account online on the website.

Does Pension App promise or guarantee any specific returns or growth?

No, we do not know how the investments will perform in the future, and the value of investments may go down as well as up.

Can I access pension funds before age 55 with Pension App?

No, currently 55 is the minimum age you can access funds with Pension App. This rises to age 57 in 2028 due to UK legislation.

Is there any incentive, offer, free pension review or cash-back to transfer to Pension App?

No, we don’t offer any incentive, cash-back, or pension reviews for moving pensions to Pension App.

If you are still uncertain about or require any further information on the scheme, please don’t hesitate to contact us via chat support or email [email protected].