RA Question

[R13...]

So I have an old RA with PPS that has a 10% yearly increase. But listening on the radio just now I heard Brian Hirsch say that about 75% of the 10% goes to the financial adviser on these type of things. This RA is in addition to my regular pension so there's no real tax benefit to it, I took it many years ago when I worked as a contractor to ensure that I have uninterrupted pension.

How do I find out if this 75% story is true? Brian suggested to the guy who was asking the question to stop the escalation. I thought back then the costs where calculated upfront and paid upfront and in my hands off approach assumed that the adviser has earned all of his commission by now.

 

[Purply]

Afiak they only get commission for the first 12 months, after that they get nothing, zero, nada

 

[R13...]

Yes the costs in the old RA laws were worked out upfront based on whether you choose 55 or 60+ years retirement. Well I phone PPS and they will send me a copy of the contract so I can see for myself. Speaking to them on the phone it sounds like I pay them way too much to administer this thing in any case.