Y3K23k5j
type: Answer
type: WrittenAnswer
answer has question: 0GNJva1K
answer has answering person: cRr5jMY5
answer text: The Making Automatic Enrolment Work Review, set up by the current Government, found that charges levied on pensions can have a significant impact on lifetime savings. The report found that a median earner with a full savings history who pays a 0.5% AMC would lose 9% of their total fund value. By contrast, at the stakeholder charge cap they would lose over 20% of their total fund value. We will be publishing a consultation this autumn that examines a range of proposals on charges, including for a cap on pension charges as a means to protect individuals and employers from excessive charges. As part of this consultation, the Government will set out its assessment of the costs to pension holders of the charges levied by pension companies.
answer given date: 2013-10-14+01:00
answer has answering body: XbTBTDMo
written answer has answering body: XbTBTDMo