This page is for members of the Markel International Pension Scheme (also referred to as the “Scheme” or “MIPS”) and is provided to share information on the costs and charges of the various investment options in the Scheme.
As you may know, the MIPS is looked after by a board of Trustees who oversee the management of the Scheme. Over the past few months, the Trustees have worked with the firms who manage the various investment options available to obtain more details on the costs and charges of those options.
These details, as disclosed by the firms managing the respective funds, are provided on pages 4 to 5 of the annual Chair's Statement for the year ended 31 December 2018. The information provided in the annual Chair's Statement also includes illustrations explaining the expected effect on an example pot of savings, of explicit (e.g. investment management fees) and any implicit (e.g. trading costs within a fund) costs and charges that are deducted within the investment options. The illustrations are provided on page 6 of the Chair’s Statement
The annual Chair's Statement is provided as a document (a pdf) that can be downloaded by clicking here.
You can also find further information on the investment options available within the Scheme’s Statement of Investment Principles. This statement includes information on the Trustees' process for choosing investments, their investment objectives and other details that serve as a guide to how they look after the investment options in the Scheme.
The Statement of Investment Principles is provided as a document (a PDF) that can be downloaded by clicking here.
If you require the Chair's Statement or the Statement of Investment Principles in another format, please contact the Mercer Helpline: 0345 600 1168, or write to:
Mercer Retirement Solutions,
P.O. Box 505,
Chichester PO19 9AF