Menu
15/11/2013
Public Urged To Take Part In Pension Charges Consultation
The government is urging people to take part in a consultation on workplace pension charges before it closes on 28 November.
The consultation so far has received support from consumer and trade organisations alike but the government wants to make sure that those who pay into pensions get their chance to put forward their views.
By 2018, up to 11 million people will be eligible to be automatically placed into a pension by their employer and those schemes should give savers good value for money. The consultation looks at options for a cap on pension charges. Even small differences in the annual management charge can lead to a significant change in retirement pot.
Minister for Pensions Steve Webb said: "We need to make sure that people can be confident that their hard earned savings are not being whittled away by unreasonably high charges. Our proposals for capping charges and increasing transparency are aimed at making the system fairer.
"It is in everybody's interest that we get this right so I am asking people to get involved in our consultation."
(CD/JP)
The consultation so far has received support from consumer and trade organisations alike but the government wants to make sure that those who pay into pensions get their chance to put forward their views.
By 2018, up to 11 million people will be eligible to be automatically placed into a pension by their employer and those schemes should give savers good value for money. The consultation looks at options for a cap on pension charges. Even small differences in the annual management charge can lead to a significant change in retirement pot.
Minister for Pensions Steve Webb said: "We need to make sure that people can be confident that their hard earned savings are not being whittled away by unreasonably high charges. Our proposals for capping charges and increasing transparency are aimed at making the system fairer.
"It is in everybody's interest that we get this right so I am asking people to get involved in our consultation."
(CD/JP)
Related UK National News Stories
Click here for the latest headlines.
20 June 2005
Pensions coalition calls for ‘fair deal’
A new coalition is calling on the new government to deliver a new ‘fair deal’ on pensions. Four organisations – the Trades Union Congress (TUC), Age Concern, Help the Aged and consumer watchdog Which? – have joined together to form the People’s Pensions Coalition to campaign for fair pensions reform.
Pensions coalition calls for ‘fair deal’
A new coalition is calling on the new government to deliver a new ‘fair deal’ on pensions. Four organisations – the Trades Union Congress (TUC), Age Concern, Help the Aged and consumer watchdog Which? – have joined together to form the People’s Pensions Coalition to campaign for fair pensions reform.
25 May 2006
Retirement age to rise to 68
The state pension age is to rise to 68, under new pension proposals announced by the government today. The government's White Paper on pensions reform said that the state pension age will be increased gradually, rising to 66 between 2024 and 2026, then 67 between 2034 and 2036 and finally 68 between 2044 and 2046.
Retirement age to rise to 68
The state pension age is to rise to 68, under new pension proposals announced by the government today. The government's White Paper on pensions reform said that the state pension age will be increased gradually, rising to 66 between 2024 and 2026, then 67 between 2034 and 2036 and finally 68 between 2044 and 2046.
17 November 2005
State pension age could rise
Britain’s workers could face an increased state pension, but they may have to work longer before they can claim it.
State pension age could rise
Britain’s workers could face an increased state pension, but they may have to work longer before they can claim it.
14 September 2007
Workers Warned On 'Forgotten Pensions'
Over half of UK adults have no idea how much money they've built up in pension schemes, while one in six people have no details of where their money is saved, government research has revealed. Findings published by government website Directgov show that a substantial number of people are failing to keep track of pensions savings.
Workers Warned On 'Forgotten Pensions'
Over half of UK adults have no idea how much money they've built up in pension schemes, while one in six people have no details of where their money is saved, government research has revealed. Findings published by government website Directgov show that a substantial number of people are failing to keep track of pensions savings.
25 July 2005
Pension Age 'should rise to 67'
The pension age in the UK should be raised to 67, a report by the Institute for Public Policy Research (IPPR) has suggested.
Pension Age 'should rise to 67'
The pension age in the UK should be raised to 67, a report by the Institute for Public Policy Research (IPPR) has suggested.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
