The Pensions and Lifetime Savings Association (PLSA) comments on the DWP Permitted charges within Defined Contribution pension schemes consultation.
Nigel Peaple, Director of Policy and Advocacy, PLSA, said: “The PLSA supports DWP’s aims of promoting cost transparency and comparability within pensions, and it is right that these aims are considered alongside other policy interventions to resolve small pots.
“However, within the wider proposals in the consultation document are some significant changes which could have fundamental impacts on the current and future evolution of the pension market.
“Before taking these ideas further, we think a more detailed and holistic assessment of the market impact of these proposals, alongside other interrelated interventions, should be undertaken.”
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