AMC on personal accounts could cost £4.5bn

In its 41-page report: ‘Charging Structures for Personal Accounts’, the PPI analyses five possible charging structures for the new system, although it points out “no single charging structure, or combination of charging structures, has all of the desirable attributes” to meet the government’s five key criteria. In the pensions white paper - Personal accounts: a new way to save’- the government suggested any possible charging structure should be evaluated to see if it: is fair to all members by taking into account their ability to pay; is simple and easy to understand; incentivises m...