Charges in workplace DC schemes revealed

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Here they are… The key findings of the Independent Project Board's final report into the charges and benefits in workplace defined contribution schemes, published today.

The board - set up by the Association of British Insurers in response to the Office of Fair Trading's market study into DC workplace pensions in 2013 - was chaired by Carol Sergeant (pictured), the former chief risk officer at Lloyds Banking Group. Rather than measuring historic charges, the Independent Project Board's audit of charges and benefits in legacy schemes shows the potential impact of charges on individuals in the future, depending on their savings behaviour. However the IPB said it was important to note its results were likely to overstate the amount of assets under manage...

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