Schroders comments on today’s DC Charge Cap announcement
The Government has today announced that the long debated charge cap will be implemented at a level of 0.75% from April 2015. This only applies to the default investment option being used for autoenrolment schemes but is likely to become the benchmark for DC schemes generally.
Neil Walton, Head of the UK Institutional Business Development Group, comments on today’s announcement:
“Following the flexibility announced in the Budget, we welcome today’s announcement and the focus on value for money, member outcomes and the importance of fee transparency. We have been designing and implementing cost effective outcome driven solutions for many years now particularly in the Multi-Asset space where certain funds have a fee level well below the new cap.
“The new rules make sure all the costs in pension schemes are published and the government will then consider whether these should also be included in the new charge cap. This transparency is important to ensure an effectively functioning market place.
“Schroders is committed to working with other industry providers to deliver low cost value for money solutions for our clients.”
For further information, please contact:
Estelle Bibby, Senior PR, Schroders
Tel: +44 (0)20 7658 firstname.lastname@example.org
Notes to Editors
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Schroders is a global asset management company with £262.9 billion (EUR316.0 billion/$435.4 billion) under management as at 31 December 2013. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.
With one of the largest networks of offices of any dedicated asset management company, we operate from 37 offices in 27 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business.
Further information about Schroders can be found at www.schroders.com.
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