Consultation outcome

Better workplace pensions: a consultation on charging

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
This consultation has concluded

Download the full outcome

Better workplace pensions: further measures for savers

Better workplace pensions: further measures for savers (print version)

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Better workplace pensions: further measures for savers (print version – cover only)

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Better workplace pensions: further measures for savers (rich text format)

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Better workplace pensions: further measures for savers (Welsh summary)

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Charges in Qualifying Pension Schemes: impact assessment (final stage)

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Charges in Qualifying Pension Schemes: Regulatory Policy Committee opinion of impact assessment

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Minimum Governance Standards for DC workplace pensions: impact assessment

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Minimum Governance Standards for DC workplace pensions: Regulatory Policy Committee opinion of impact assessment

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Detail of outcome

This publication sets out the government’s response to the consultation on a range of measures to address pension charges, to protect employees in workplace defined contribution pension schemes.

The new measures outlined in this paper are also based on the evidence gathered from

Chapter 1 includes a further consultation on the minimum governance standards and transparency of workplace pension schemes. The government’s response to this is included in Better workplace pensions: putting savers interests first.


Original consultation

Summary

This consultation seeks views on a range of measures to tackle pension charges to protect employees in workplace defined contribution pension schemes.

This consultation ran from
to

Consultation description

This consultation sets out a range of measures to address pension charges in defined contribution workplace pension schemes aimed at protecting employees from poor pension returns due to pension charges. The consultation seeks views on whether:

  • further action is required to improve transparency and disclosure of pension charges
  • a cap on charges in default funds of defined contribution qualifying schemes should be introduced
  • differential charging between active and deferred members, consultancy charges and commissions should be banned in defined contribution qualifying schemes

Documents

Better workplace pensions: a consultation on charging

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Better workplace pensions: a consultation on charging (rich text format)

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Better workplace pensions: a consultation on charging (Welsh)

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Published 30 October 2013
Last updated 17 October 2014 + show all updates
  1. Added link to 'Better workplace pensions: putting savers' interests first'. This includes a response to the consultation on the minimum governance standards and transparency of workplace pension schemes in chapter 1 of 'Better workplace pensions: further measures for savers'.

  2. Added the Regulatory Policy Committee opinions on the impact assessments.

  3. Published addtional impact assessment – Minimum Governance Standards for DC workplace pensions: impact assessment

  4. Published the government's response to the consultation (Better workplace pensions: further measures for savers).

  5. First published.