Embark will charge 1.65% MER annually plus applicable taxes. This means we’ll take off $16.50 for every $1,000 invested, plus applicable taxes, deducted directly from plan earnings, or if earnings or insufficient, from contributions.
The Embark prospectus does allow for the MER to be increased to a maximum of 1.99% per year, plus applicable taxes. For example, this would be a maximum of $19.90 for every $1,000 invested.
This fee pays for investment management costs, operating, managing, and administering the Plan, including record keeping, trustee, valuation, distribution, and custodial services.