FCA Lowers Costs On £25B Of Pension Assets

Law360, London (December 6, 2017, 5:58 PM GMT) -- The U.K. Financial Conduct Authority has helped lower charges on nearly £25 billion (33.5 billion) of assets held in workplace pension schemes following a four-year crackdown on excessive costs, the government announced on Wednesday.

Officials have reduced costs and charges to below 1 percent on £24.9 billion held in pension schemes in a push that began in 2013, the regulator said. The announcement follows a combined effort involving pension providers, trustees, the FCA, and the Department for Work and Pensions.

The campaign came after the government...
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