Pensions - Articles - Permitted charges within DC pension schemes


Commenting on the concluded DWP Consultation ‘Permitted charges within Defined Contribution pensions schemes’ Michael Ambery, Partner says:

 “We are pleased to see that today’s Consultation, Permitted charges within DC pensions schemes, has protected small pension pots from erosion and becoming worthless. This commitment will protect those with relatively small pots having these diminished by investment charges. However, we question whether this goes far enough, and believe £100 remains a very small protection value and relatively insignificant in respect of the de minimis level. This level could have been much larger and should be reviewed for relevance to afford pension savers much greater protection. We remain concerned that the operational impact of changes to protect members leaves the administration and provider teams little time to ensure protections are in place.

 “We would welcome the consideration of the consolidation of small pension pots and how processes might be put in place for the consumer to be protected, and have improved outcomes, during their entire working lifetime. We hope this will follow in due course and eagerly await further thoughts on Universal charging structure with the potential that this may lead to an explosion within the DC pension marketplace.”
  

Back to Index


Similar News to this Story

Over half admit to doing little to no research on retirement
Pension Awareness Day (Monday 15th September 2025) is a key reminder for people to take action and review their retirement savings to get a realistic
Only 4 in 10 working Boomers feel prepared for retirement
Only 41% of the 3 million+ working people aged 60-69 agreed they feel prepared for retirement. Almost the same proportion - 36% - said they do not fee
Invisible workers left behind
With millions across the UK facing a pension crisis, PensionBee is sounding the alarm on Pension Awareness Day, urging the government and the freshly

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.