Calls for pressure to be lifted on DC pots and potential scrap of flat fees

Hope William-Smith
clock • 3 min read

Consultants have warned that cost constraints are holding defined contribution (DC) schemes back, responding to a Department for Work and Pensions’ (DWP) consultation on the effectiveness of costs, charges and transparency measures.

The DWP's call for evidence opened in June to progress commitment made by the government following the 2017 review of the charge cap to re-examine the scope and level of the charge cap in 2020. ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Patrick Heath-Lay: Industry not doing enough to make transfers work for members

Patrick Heath-Lay: Industry not doing enough to make transfers work for members

Master trust CEO says VfM metrics should apply across all DC pensions

Patrick Heath-Lay:
clock 02 May 2024 • 4 min read
Industry says 'magnetically attached' pensions will address small pots issue

Industry says 'magnetically attached' pensions will address small pots issue

However, PP survey finds concern around implementation challenges

Jasmine Urquhart
clock 01 May 2024 • 2 min read
Average DC default has 10% invested in top US tech firms

Average DC default has 10% invested in top US tech firms

PensionBee finds average £20,000 pot has £2,033 invested in US tech giants

Jasmine Urquhart
clock 01 May 2024 • 2 min read
Trustpilot