15

There is a charge cap for savers who default to a scheme through auto-enrolment.

Recommendation
There is a charge cap for savers who default to a scheme through auto-enrolment. We recommend that there should be a similar charge cap for non-advised savers choosing a decumulation product through investment pathways. The Financial Conduct Authority should report on this as part of its upcoming review on investment pathways.
Paragraph Reference
63
Government Response
Acknowledged
HM Government Acknowledged
We understand that the FCA will be responding to this recommendation separately.
Source
Committee Work and Pensions Committee
Inquiry Protecting pension savers – five years on from the Pension Freedoms: Accessing pension savings
Report Fifth report - Protecting pension savers—five years on from the Pension Freedoms: Accessing pension savings 18 Jan 2022 HC 237
View on Parliament website
Addressee Bodies
Department for Work and Pensions
Timeline
Recommendation age 4.4 yrs
Report published 18 Jan 2022