Transcript."Hello there Ashley Clark again here and er today I am going to talk to you about how to get a much much bigger pension and an example is I am going to show you how to get £165,000 bigger pension fund just by taking some few simple actions. Right firstly it’s probably a good point to explain how charges work on your pension funds and most pension funds have an annual management charge, now this is the charge that the pensions company levies on your investment funds for them to manage your money, so to give you an example under UK pension law at the moment for things like stakeholder pensions, the maximum management charge, the maximum yearly charge that a pensions company can charge you is 1.5% per annum. Now 1.5% per annum doesn’t seem that much, but if you change the numbers and instead of you having £50 a month in your pension, you have £100,000 in your pension fund, then 1.5% all of a sudden is a lot of money. 1.5% of £100,000 pension fund is £1,500 per annum in charges, in charges alone and then you’ve got to try and get some growth and if you don’t get any growth and you’re still being charged this 1.5%, this £1,500 then clearly your pension fund is going to go down in value quite quickly. So how to get a bigger pension, there’s the question. My guidance to you, my advice is to look at removing those hidden charges by paying your adviser a fee. Now on that example I gave you earlier, if you’ve got £100,000 in your pension fund and you paid a fee for the advice to set up your pension fund, then you can get management charges as low as about 0.4% a year. Now, again does that seem a lot, well yes it does 1.5% a year in charges on a commission based pension is £1,500 a year of your money disappearing in charges versus 0.4% on a nil commission pension plan is only a charge of £400 a year, that saves you, how much does that save you I’ve got to work that out now £1,500 less £400 that saves you £1,100 a year in charges alone just by paying your adviser a fee to run your pension scheme and get you a nil commission pension. Now I’m going to show you some figures now and those figures will show you the dramatic change that you can make on your pension fund at aged 35, at age 45 and 55 if you retire at your normal retirement date of let’s say 65. £100,000 Pension Fund, Projected Funds at age 65 Age Now Commission Basis Fee Basis35 £507,000 £675,00045 £295,000 £357,00055 £171,000 £189,000 Based on £100,000 pension transfer to Aviva Personal Pension Managed Fund at 7% pa growth. Commission 4.60% +0.5% pa of fund value versus our Fee only, NIL Commission terms. 11/12/11. So those charges are huge, the difference in the fund value for somebody’s pension fund at age 65 whose paid a fee and had their annual charges reduced on their pension for that 35 year old is £165,000 and it doesn’t just stop there, its if you’re a 20 year old and you want to save £100 a month in a pension plan, by saving that £100 per a month into a pension plan but let’s say with ourselves, we charge £400 to arrange a pension fund for a regular premium pension of £100 a month, now that might seem a lot but when you look at the lower charges that a fee based pension gets that will give a 20 year old a £65,000 bigger pension just for paying £400, so £400 gives you a £65,000 bigger pension fund or in the case of a pension transfer where you’ve got let’s say £100,000 in there we would charge about £1,000, a £1000 fee to get a pension fund £165,000 bigger in exactly the same insurance company, in exactly the same pension funds all because you changed the basis on how you’re paying for your pension advice. So that’s how you get a bigger pension fund."