you can't actually argue that the retail channel will eat the difference. that would be arguing that the financial market would eat the difference, and that's e

you can't actually argue that the retail channel will eat the difference. that would be arguing that the financial market would eat the difference, and that's exactly what financial markets will not do. nor do you want them to, since the money in financial markets is your pension. lay people have a broken view of what goes into a price and a profit, thinking that a "fair" profit should be some "reasonable" percentage. It's just not how it works, it works on multiplied rates. the financial markets exist to give large companies working capital. if the companies need double the working capital, the shareholders/bankers want double the returns. the alternative would be you getting a letter saying "hey, the returns on your retirement account are going to be halved, think of it like your retirement account is now half the size"