Scottish Widows Urges Scrapping Pension Performance Fees

Law360, London (May 21, 2021, 6:08 PM BST) -- One of Britain's largest pension providers has warned that plans by the U.K. government to introduce a regime to manage fees that retirement saving schemes pay to investment managers will be confusing for customers and are unneeded.

Scottish Widows said that the idea assumes that "performance fees have a place in default funds" and that a way has to be found for such charges to be adopted so that a wider range of assets can be taken up by funds. The comments, which were released on Friday, were contained in its April 16, 2021, response to a Department for Works and Pensions...

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