PLSA responds to consultation on permitted charges within DC pension schemes

Article summary

The Pensions and Lifetime Savings Association (PLSA) has responded to the Department for Work and Pensions (DWP) consultation on permitted charges within Defined Contribution (DC) pension schemes. PLSA and the deputy director of policy at PLSA, Joe Dabrowski, outlines their support of applying the de minimis to both active and deferred pots. The response also sets out significant concerns about the universal charging structures for all default arrangements, having disproportionate solutions to cost transparency and comparability, and creating fundamental issues for the future of the Automatic Enrolment market including breaking the employer link with pensions. PLSA urges the government to carry out further analysis and research.