OFT asks whether ‘defined-contribution pension schemes’ provide value for money?
On 17 January 2013, the UK Office of Fair Trading (OFT) launched a market study to examine whether the UK defined-contribution (DC) workplace pension schemes deliver the best value for money for savers.
There are widespread concerns that DC workplace pension schemes are complex and unclear structures often misunderstood by savers. This can result in savers paying high fees and opaque charges and bearing all the investment risk with no guarantee of their eventual income upon retirement. The OFT is concerned this is an area ripe for ‘consumer harm’.
This study is particularly timely given the critical impact of the automatic enrolment regime introduced in October 2012, which requires employers to pay into a pension scheme for all employees unless they opt out…
If you are registered and logged in to the site, click on the link below to read the rest of the Stephenson Harwood briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Stephenson Harwood
News from The Lawyer
Briefings from Stephenson Harwood
This helpful one-page summary diagram shows the current expected timetable for Great Britain’s passenger rail franchises and concessions.
In Kays Hotels v Barclays Bank, the Commercial Court refused a strike-out application that was based on a bank’s argument that the claim was time-barred.
Analysis from The Lawyer
The Lawyer’s litigation reporter looks at the ongoing saga of the Tchenguiz litigation
‘Exotic’ investors and opportunities for legal work beyond M&A feature in The Lawyer’s high-level roundtable debate on south-east Europe