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ABI comment on DWP pensions charge cap changes

The Department for Work and Pensions has outlined proposals to enable automatic enrolment pension schemes to make greater use of performance-based fees.

Yvonne Braun, Director of Long-Term Savings and Protection at the Association of British Insurers said:

YvonneBraun500x500new.JPG“The Government’s efforts to enable workplace pension schemes to invest in asset classes such as green infrastructure is welcome, especially in the race to Net Zero. However, the price of workplace pension schemes has become an almost exclusive driver of many trustees’ decisions rather than considering the value a scheme offers overall, including the investment return. It is important there is a much wider culture change which is why the joint work of FCA and TPR on value for money is so important.”

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Last updated 30/11/2021