Better workplace pensions : further measures for savers

This Command Paper forms the Government's response to its consultations on minimum quality standards and its formal response to the OFT market report.

It brings forward a package of proposals that will ensure that individuals are enrolled into schemes with low and fair charges, good governance and increased transparency.

It describes the Government's plan to improve governance in Defined Contribution workplace schemes.

This includes proposals for both contract and trust-based schemes, examining how administration standards might be improved and looking closely at the relationship between scheme size and good member outcomes.

It also contains the Government's plans to create fair and appropriate charging structures in Defined Contribution workplace schemes - through a charge cap on default funds used in qualifying schemes and an end to inappropriate member-borne charging structures such as Active Member Discounts, consultancy charges and adviser commissions within qualifying schemes.

Transparency will play a vital role in delivering these changes.

For the first time providers and schemes will be required to produce line item disclosure of all charges in a standard format