Pension Charge Cap Postponed

Pension Charge Cap Postponed.

The move introduce a maximum charges cap on pension funds has been delayed by the Department for Work and Pensions (DWP).

Originally, a consultation process was launched last year with a view to introducing the pension charges cap in 2014.

There have been over 150 responses to the consultation from many including most of the major pension companies in the UK.

The DWP has suggested that it will take time to consider all written responses in the consultation period and this may delay any changes to pension charges and the introduction of a charges cap.

Comment

We have been lobbying for 14 years now about how high charges on pension and investment funds.  For too long, financial advisers and pension companies have been hurting UK consumer pension investment returns with large charges.