Personal accounts could cost £10 - Paymaster

In its response to the pensions white paper: ‘Personal accounts: a new way to save’, Xafinity Paymaster says it has carried out analysis work over the last year which suggests the proposed annual management charge (AMC) of 0.3% on personal accounts “will be a challenge but is achievable”. The organisation reveals it has also conducted research, which included visiting Sweden and working with the Department for Work & Pensions (DWP), that suggests the most workable charging model will be flat fee charges to cover administration costs, while fund management charges should be applied as a pe...