The VIAC administration fee is 0.52% per annum (at most 0.44% p.a. due to the fee cap) on the invested pension assets. There is no administration fee on the cash portion. The administration fee covers the trading costs and the fees paid by the custodian bank for cash account and custody account management. This fee also includes all foundation administration fees, technology deployment and support. There are no transaction costs, retrocessions or other commissions.