Pension charge cap reforms: ‘It’s been a long journey to get to this point’

Stephen Budge, Partner at LCP, commented: “We welcome the government’s continued commitment to making it easier for DC pension savers to access an even wider range of illiquid asset classes to drive better member outcomes. It’s been a long journey to get to this point and the support from the government and regulators has been a critical element to supporting pension scheme interest.

“However, while we welcome the progress being made, making it easier for DC pension savers and pension funds to access illiquid asset classes, we aren’t convinced these steps will necessarily open the flood gates on their own.

“This now falls to the industry to work together to resolve the remaining concerns around fairness on members, establishing the products to better fit DC members’ needs and delivering a real net benefit for members.