{"id":34861,"date":"2013-11-15T12:50:01","date_gmt":"2013-11-15T12:50:01","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=bdec2f8d2c4921db78848ccec8922708"},"modified":"2013-11-15T12:50:01","modified_gmt":"2013-11-15T12:50:01","slug":"press-release-have-your-say-on-pension-charges","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=34861","title":{"rendered":"Press release: Have your say on pension charges"},"content":{"rendered":"<div class=\"govspeak\">\n<p>The government is urging people to take part in a consultation on workplace pension charges before it closes on 28 November. <\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Minister for Pensions Steve Webb said:<\/p>\n<blockquote>\n<p>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.<\/p>\n<p class=\"last-child\">It is in everybody\u2019s interest that we get this right so I am asking people to get involved in our consultation.<\/p>\n<\/blockquote>\n<p>Options for the cap include a: <\/p>\n<ul>\n<li>higher charge cap of 1% of funds under management<\/li>\n<li>lower charge cap of 0.75% of funds under management<\/li>\n<li>two-tier \u2018comply or explain\u2019 cap \u2013 a standard cap of 0.75% of funds under management for all qualifying schemes and a higher cap of 1% available to employers who report to the Pensions Regulator why the scheme charges in excess of 0.75%<\/li>\n<\/ul>\n<div class=\"call-to-action\">\n<p><a rel=\"external\" href=\"https:\/\/www.gov.uk\/government\/consultations\/better-workplace-pensions-a-consultation-on-charging\">Respond to the consultation by Thursday 28 November<\/a><\/p>\n<\/div>\n<h2 id=\"contact-press-office\">Contact Press Office<\/h2>\n<div class=\"contact postal-address\" id=\"contact_827\">\n<div class=\"content\">\n<h3>Press Office<\/h3>\n<div class=\"vcard contact-inner\">\n<p class=\"adr\">\n<span class=\"street-address\">Caxton House<br \/>\n<br \/>\nTothill Street<\/span><br \/><span class=\"locality\">London<\/span><br \/><span class=\"postal-code\">SW1H 9NA<\/span>\n<\/p>\n<div class=\"email-url-number\">\n<p class=\"tel\">\n              <span class=\"type\">London Press Office (national media and London area enquiries only \u2013 not questions about personal claims)<\/span><br \/>\n              020 3267 5144\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">Out-of-hours (journalists only)<\/span><br \/>\n              076 59 108 883\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">England and Wales (local media enquiries)<\/span><br \/>\n              029 20 586 then 097or 098 or 099\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">Scotland (local media enquiries)<\/span><br \/>\n              0131 310 1122\n            <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p>Media enquiries for this press release \u2013 0203 267 5134<\/p>\n<p>Follow DWP on:<\/p>\n<ul>\n<li>Twitter \u2013 <a rel=\"external\" href=\"http:\/\/www.twitter.com\/dwppressoffice\">www.twitter.com\/dwppressoffice<\/a>\n<\/li>\n<li>Facebook \u2013 <a rel=\"external\" href=\"http:\/\/www.facebook.com\/dwp\">www.facebook.com\/dwp<\/a>\n<\/li>\n<li>LinkedIn \u2013 <a rel=\"external\" href=\"http:\/\/www.linkedin.com\/company\/dwp\">www.linkedin.com\/company\/dwp<\/a>\n<\/li>\n<li>YouTube \u2013 <a rel=\"external\" href=\"http:\/\/www.youtube.com\/dwp\">www.youtube.com\/dwp<\/a>\n<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The government is urging people to take part in a consultation on workplace pension charges before it closes on 28 November.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/34861"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34861"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/34861\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}