DWP bans flat-fee AE charges on pots worth under £100

The government's response to its review of the default fund charge cap and standardised cost disclosure, published today (13 January), said that pensions pots that are worth £100 or less, and are saved through AE, will no longer be subject to flat annual fees. The DWP estimated the new policy will boost protections for those automatically enrolled into a workplace pension, especially those on lower earnings who it noted could be particularly prone to building up a number of small pensions pots. In addition, the DWP said it is starting work on standardising costs and charges so that tr...