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Question for Department for Work and Pensions

UIN 911286, tabled on 25 January 2021

What steps her Department is taking to help protect pensions savers from disproportionate costs and charges.

Answered on

25 January 2021

On 13 January DWP published its review of the default fund charge cap. This included a commitment to end flat fees on pension pots of £100 and under.

At present, price comparison of the costs of automatic enrolled pensions is not possible – and this needs to change.

Protecting savers and giving them value for their money is my priority. I will be looking into standardisation of charges so savers can better assess the value for money of their investment.

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