Gregg McClymont – 2014 Parliamentary Question to the Department for Work and Pensions

The below Parliamentary question was asked by Gregg McClymont on 2014-04-29.

To ask the Secretary of State for Work and Pensions, what estimate he has made of the cost to the average UK saver of delaying the pensions charge cap from April 2014 to April 2015.

Steve Webb

There has been no delay to the default fund charge cap. The Government has announced that it will put in place a charge cap set at 0.75% of funds under management for the default funds of all schemes used for automatic enrolment from April 2015. This means we will deliver on the timetable in our consultation document to have a full cap for all qualifying schemes in place by April 2015.