Aegon warns 0.75% pension charge cap 'may not fit'

The Department for Work and Pensions (DWP) released a consultation today outlining options on how charges on auto-enrolment schemes would work. One option is a ban on all charges above 0.75% a year. It comes in response to the Office of Fair Trading (OFT) report into the UK pensions market, which concluded it was not offering value for money for many savers. Aegon regulatory strategy director Steven Cameron said:“The OFT’s detailed analysis of workplace pensions highlighted that value for money does not mean the lowest possible price. We need a full, frank and informed discussion on...