Retroactive to January 2020, Mars Pension Fund will charge members in the Associate Selection Plan (ASP) a periodic administration fee. This is necessary because asset manager Vanguard no longer discounts administration fees. On the other hand, the investment costs have gone down. Vanguard invests the pension pot of the ASP plan.

Why are there now suddenly administration fees?

The fact that we have to charge this administration fee is not for the first time. Until 2018, participants also paid an administration fee. The rebates we received from Vanguard between 2018 and 2020 covered these costs. But that is no longer the case.

How high are the administration fees?

In 2020, these costs are periodically €3.66 if you are employed by Mars. Are you out of employment? Then these periodic costs are lower, namely €1.80. The board fixes these costs annually. There is a maximum. The costs will never be more than 1% of your total MSP capital. And new members do not have to contribute for the first three years.

What does this news mean for my retirement?

The administration fee for the MSP will be deducted from the value of your MSP account. As a result, on your retirement date you will have a slightly smaller amount in your account than you might be taking into account now. You will find these amounts in your investment overview. You can find this in My Post.