Commission charges

[Rezz]

Hi all,

I've had my ideco up and running for about 4 months now. Unfortunately, my employer wouldn't allow the amount to be taken directly from my salary because there isn't yet a system in place for it. Therefore, I've been having the maximum amount I'm allowed (12,000 per month) withdrawn from my bank account and deposited into my ideco.

The process is fairly slow, and usually takes a couple of weeks for the amount to show up. Until now, I noticed there has also been a discrepancy between the amount I've had withdrawn from my bank and the amount showing up in the ideco. Just today, I realised you could push the "評価損益推移照会" button on the JIS-T website to see what exactly has been going on. Mine currently shows this:



I've already paid 3,150 in commission charges. Is that a standard JIS-T charge, or is it because I've been paying from my bank account? Did I overlook something in the small print relating to opening an account?

Thanks,
Rezz

[RetireJapan]

Hi Rezz

You can see the commissions charged by each provider here: http://www.dcnenkin.jp/search/commission.php

The bulk of it is probably the initial charge for setting up the account (lowest currently available seems to be 2,777 yen). There is also a monthly charge, and a redemption charge when you cash out.

Hope that helps!

[Rezz]

Doh! Now I remember seeing this when I signed up. I guess the long wait between applying, setting up and depositing money in made the initial charges totally slip my mind. Thanks!