DWP pensions cap plan in doubt

The government’s plans to cap pension management fees by next April have been dealt a blow, after The Regulatory Policy Committee deemed the impact assesment “not fit for purpose.” The cap, which would apply to those who are auto-enrolled into a scheme, was expected to be set at 0.75 per cent. The RPC said the government had not properly calculated the costs involved and had failed to demonstrate why the cap would have no impact on the industry.