Pension Charges to be Capped at 0.75%

Pensions minister Steve Webb is expected to announce a plan to cap the cost of workplace pension schemes at 0.75%

Emma Wall 29 October, 2013 | 4:49PM

Workplace pension charges should be capped at 0.75% a year, in line with the cost structure of auto-enrolment schemes, pensions minister Steve Webb has said.

The politician has confirmed he is backing a paper due to published by Department for Work and Pensions tomorrow, proposing as much.

Auto-enrolment was launched in October 2012 starting with the country's largest companies and around 10 million people will eventually be enrolled into schemes over the next couple of years. 

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Emma Wall  is former Senior International Editor for Morningstar

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