Use our DB scheme costs comparison tool
The amount which trustees pay to run their scheme, and the allocation among the various cost types, may vary depending on the design and needs of their scheme and the scheme's complexity, as well as the trustees' and sponsoring employer's own skills.
However, understanding what you are paying, and the range of charges for a cost type, is the first step to considering how to ensure you are getting value for money.
Use the tool below to view highlights from our 2014 DB scheme running costs research report and compare costs information for schemes of a similar size to your own.
You may find this helpful to compare what you pay to run your own scheme against the typical cost for schemes in your size band, although cost alone does not indicate whether the scheme is getting value for money.
What size is your DB pension scheme?
Select how many members are in your scheme (including active, deferred and pensioner members):
Please note: the figures this tool displays exclude the costs of levies and the production of actuarial valuations.
DB scheme running costs research
Compare your DB scheme costs
Use our checklist to review your own scheme costs, allowing you to check your understanding of these costs and make a more direct comparison between your own experience and the research findings for schemes in the same size band.
Where you are unclear about your costs you may want to have a conversation with your sponsor or providers.
Send us your feedback
We’re interested in hearing the pensions industry’s views about the research and achieving value for money in DB schemes.
If you have any feedback please email: engagement@tpr.gov.uk
Additional resource - the Cost Transparency Initiative
The Cost Transparency Initiative (CTI) is a partnership initiative between the Pensions and Lifetime Savings Association (PLSA), the Investment Association (IA), and the Local Government Pension Scheme (LGPS) Advisory Board. With an increasing focus on cost transparency across all financial universes, the CTI has produced a suite of voluntary templates and guidance designed to help trustees understand and compare the costs of their investment services by using a standardised reporting format. These templates can be used to request charges information.