Group Triple C Plan: Charges

The charges are typically split into set-up charge and thereafter, a percentage of each paid premium. The percentage varies depending on the size of the plan etc., but likely to be between 4% and 6%. The set up charge depends on the size of the plan and the complexity of the premium and benefit structure. The charge is typically GBP 2,500 but can vary between GBP 0 and GBP 5,000.

Paid-up policies

An annual charge of GBP 50 (or currency equivalent) is deducted (on 1 January each year) from the accumulated account if its value is less than GBP 10,000 (or currency equivalent).

Notwithstanding this Nordben reserves the right to make an annual charge of GBP 100 (or currency equivalent) from a paid-up accumulated account where its value is less than GBP 20,000 (or currency equivalent).

Nordben will increase each of the amounts stated above each year.  The target increase is Pounds Sterling consumer price inflation, although this is not a guarantee and the increase in a given year may be higher or lower than this. 

Charge on Triple C policyholders' fund

Nordben also reserves the right to make a charge on the Triple C policyholders' fund. The Board has determined that, at present, the charge will not exceed a half of one per cent of funds per annum.   Nordben reserves the right to increase the level of this charge.