We are the voice of insurance and long-term savings | Contact us

ABI responds to DWP announcement on pension charge cap

Responding to the announcement today (January 23, 2014) by Pensions Minister Steve Webb to defer a cap on pension charges until April 2015, Yvonne Braun, Head of Savings Retirement and Social Care, Association of British Insurers said:

"Millions more people are saving into a pension due to the early success of automatic enrolment.

"It is a sensible and pragmatic decision not to make changes now which would cause disruption at an operationally sensitive time with thousands of new employers setting up schemes and provider capacity already strained.

"Workplace pension charges are now at their lowest level ever, and the ABI's members will continue to focus their efforts on ensuring that auto-enrolled savers get value for money and transparent pensions."

Last updated 01/07/2016