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Ongoing fund charges: keep the figure in context

Understand the OCF and annual management charge, then clarify which costs a document includes. No actual fee calculation, product comparison or switching recommendation.

All Pensions Editorial TeamPublished Updated 2 min read

General information, not personal financial advice. Sources checked 2026-10-04. No independent specialist review is claimed.

OCF and AMC describe charge information

MoneyHelper identifies the Ongoing Charges Figure, or OCF, in fund documents. It explains that the annual management charge, or AMC, is included within that figure alongside fund-running expenses.

Keep the abbreviation and the original description together. Do not add the AMC to an OCF simply because both appear on the same page: first establish what is already included. If the document uses another charge measure, ask what that measure covers.

Sources: MoneyHelper: Types of investments

One fund figure need not describe the whole arrangement

MoneyHelper notes that charges vary by fund, product and provider, and that platform, dealing or advice fees may also arise. A fund charge therefore needs its surrounding documents, not just a number copied from a comparison page.

For your own records, distinguish the fund, pension arrangement and any separately described service. Ask which charges are included, which are separate and which were actually deducted. Keep an unanswered question rather than inserting a generic fee.

  • What is the figure called and what does it include?
  • Which separate services or transactions are described?
  • What dates and actual deduction records support the information?

Sources: MoneyHelper: Types of investments

An illustration does not establish your actual cost

Investments can fall as well as rise. Past performance does not predict future returns. The fee illustration uses explicit hypothetical charges and growth assumptions; it does not reconstruct actual deductions or judge which fund you should hold.

Use the existing pension-fees guide to organise scheme-level paperwork. A lower headline figure alone does not settle suitability or the consequences of changing an arrangement. This article does not recommend consolidation or a switch.

Sources: MoneyHelper: Types of investmentsFCA: Risk and returns

Sources & review

Next scheduled review: 2027-01-04. Provider details can change sooner. Use the official website for the current contact route.

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