In March 2014, the Department for Work and Pensions published the command paper entitled Better workplace pensions: further measures for savers. This command paper announced a range of charges measures in defined contribution (DC) schemes used for automatic enrolment (qualifying schemes).
We commissioned this research to measure charges applied across qualifying and non-qualifying DC workplace pension schemes open to new members. The research looked at the 12 month reporting period prior to the introduction of the first charges measures in April 2015.
This publication follows previous surveys conducted in 2011 and 2013. Unlike previous editions, it interviews pension scheme providers rather than employers.
We’ll use the research findings to:
- benchmark the impact of the charges measures in the year prior to implementation of the charge cap
- monitor trends in charges
- assess the roll-out of the other charges measures between 2015 and 2016
- inform the 2017 government review of the level of the charge cap and whether some or all transaction costs should be included within the cap
Authors: Andrew Wood, Louise Amantani, Chloe Gooders, Neil Simpson (Bright Blue, formerly RS Consulting)