Default Charge Cap and Standardised CostDisclosure

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PLSA response to the DWP Call for Evidence: Review of the Default Fund Charge Cap and Standardised Cost Disclosure 

In Summer 2020, the Department for Work and Pensions (DWP) published a call for evidence to review whether the level of the charge cap should change and the extent to which transaction costs should be included in the cap. The Call for Evidence also considered how scheme members subject to charging structures which include a flat fee element are protected from excessive charges. Finally, the Call for Evidence considered options for assessing existing take up of the Cost Transparency Initiative and widening the use of standardised cost disclosure templates. 

The PLSA successfully worked with its members to feed in its views both informally and in writing over the course of this wide ranging call for evidence during the period.