Investment Charges

Cost is one factor that you might want to consider when deciding where to invest your retirement account. The fees charged by each fund manager for each available fund are shown in the table below:

Manager	Fund	Fees (% per annum)
Legal & General	Global (50:50) Equity	0.14%
	UK Equity	0.09%
	Index Linked Gilts	0.09%
	Pre-Retirement Fund	0.15%
	Cash	0.09%
HSBC	Amanah	0.30%
Gartmore	Focus Fund	0.575%
BlackRock	Diversified Growth	0.51%
BlackRock	UK Focus	1.0%

Cost should not be looked at in isolation, for example, the return a fund has the potential to achieve may outweigh a higher annual fee. It is important to have a balanced view of the fund you are investing in so please visit the fund manager pages to find out more.

In addition to the fees shown above there is an administration fee deducted from your retirement account of less than £100 per year by the Plan Administrator.

Reduced fees

The investment fees shown above, for the majority of funds, are lower than would normally be charged by the managers. The Trustee of the O2 Pension Plan (‘the Trustee’) has used its buying power to negotiate a lower fee to pass onto you.

If you invest in Gartmore’s Focus Fund then this lower fee will be passed onto you in the form of a quarterly rebate. You will be charged the full fee and the difference between this and the lower fee negotiated by the Trustee will be passed back to you as a rebate. Further details on this and the conditions of payment can be found below.

Gartmore fee rebate

Each quarter those Members who are still invested in Gartmore’s Focus Fund one month after the quarter end (see table below) will receive a rebate of part of the fee they have paid. This will be in the form of additional units that will be applied to their retirement account.

Quarter end that the fee rebate will be paid for	Member must still be invested in the fund in order to receive the quarterly fee rebate
31 December	Up to and including 31 January
31 March	Up to and including 30 April
30 June	Up to and including 31 July
30 September	Up to and including 31 October

If a Member leaves before the date specified above then they will not be eligible to receive a rebate. If a Member joins part way through a quarter, for example on 10th January, then they will receive a pro-rated rebate.