The DWP has published its response to the consultation on broadening the investment opportunities of DC schemes.

The consultation sought views on draft regulations and draft statutory guidance introducing:

  • A requirement for relevant DC schemes to disclose and explain policies relating to illiquid asset investment and asset allocation generally in their default fund statement of investment principles.
  • An exemption of performance-based fees from the regulatory charge cap applying to default funds. 

The draft amending regulations were laid before Parliament on January 30, 2023. The exemption for performance-based fees is due to come into force on April 6, 2023, and the “disclose and explain” requirements for illiquid investments will be in force

 


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