Provider Fee: The provider fee is charged by Saveable Limited, a Plum Group Company that is responsible for managing your pension account. This includes services like commissions, preparing statements, and SIPP management. It’s fixed at 0.45% per year (deducted on a monthly basis) and it's deducted directly from the money you hold in your pension fund.

Fund Management Fee: The funds you choose for your Plum SIPP are managed by specific fund managers, each of whom charges a fee for their service. These fees can vary slightly from one fund to another, but they are typically a percentage of the total amount you have invested in the fund. Fund managers automatically deduct their fees from the funds they manage (leading to slightly smaller earnings).