The Department for Work and Pensions (DWP) is consulting on the policy around the implementation of a ‘de minimis’ below which a flat fee element of a combination charge cannot be charged for DC automatic enrolment schemes. This will be set at £100.
This intention was included in the Government’s previous consultation ‘Review of the Default Fund Charge Cap and Standardised Costs Disclosure’ published in January 2021.
They are also consulting on a proposal to move to a single, permitted universal charging structure for use within qualifying Defined Contribution schemes used for automatic enrolment.
We would very much value hearing the views of qualifying DC schemes which will enable us to have a more comprehensive and robust response.
Please complete the survey which can be found here by the close of play on the 6 July. It should take no longer than 10 minutes to complete.
Please contact Nicky Day if you have any questions on the survey:
Complete the survey