There are typically three charges: the investment fee, the administration charge from the pension provider, and a charge for advice.

Typically, there will be a platform fee, of up to 0.75 per cent, and an investment fee, of about 0.2 per cent.

For a minimum investment fee of 20, anyone can become a shareholder in emerging companies while participating in and profiting from their future growth.

Millions of small investors are losing out because they continue to be confounded by investment fees and have little understanding of what they are being charged for advice.

If this was invested and grew at 5 per cent a year, taking investment fees into account, you would have 7,303.68.