Universal auto-enrolment scheme charging structure could 'cost millions'

The not-for-profit scheme criticised the government's anticipated proposals to ban auto-enrolment (AE) providers from using combination charging structures and force them to introduce a single, flat annual management charging structure. TPP currently uses a combination charging structure and warned if the government makes the move to a single charging structure, the average saver could lose out on almost £27,000. Its charging structure consists of an annual charge, a management charge, and a rebate on the management charge. It said based on the current combination charging structur...