New Quick Poll: Opinions on lowering the default charge cap on DC workplace pension schemes
04 August 2020
The Department for Work and Pensions (DWP) has launched a call for evidence, which seeks views and feedback on the effect of the level of the pension charge cap, which currently stands at 0.75% of funds within Defined Contribution (DC) pension schemes used for Automatic Enrolment (AE).
The charge cap is a limit to the annual amount that a pension scheme can charge its members who are saving into it. The cap is applicable to all scheme administration and investment costs.
Upon reflection of this, the CIPP’s Policy and Research team wanted to ask members their views on the matter, so currently there is a Quick Poll question, which asks:
“Do you agree with the government's proposals to lower the default charge fund cap on DC workplace pension schemes?”
We understand that, particularly at present, payroll professionals are extremely busy individuals, but the Quick Poll will take less than a minute to respond to.
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