A charge cap for money purchase default funds in schemes used to meet an employer's auto-enrolment obligations came into force on 6 April 2015.


New governance requirements relating to occupational schemes with money purchase benefits were also introduced. We reported on the charges and governance requirements in our last Update. Since then the regulations have been amended to make clear the charge cap does not apply to AVC only arrangements.

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Rachel Rawnsley

Rachel Rawnsley

Partner, Head of Pensions
United Kingdom

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Catherine McAllister

Catherine McAllister

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United Kingdom

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Jade Murray

Jade Murray

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United Kingdom

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Rachel Uttley

Rachel Uttley

Partner, Pensions
United Kingdom

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