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DWP response: broadening investment opportunities of DC pension schemes
United Kingdom | Publication | February 2023
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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