It’s important that you understand how much it costs to run your defined benefit (DB) pension scheme. These costs can include fees for administration, advice and services to members.
The amount you pay to run your scheme will vary depending on its design and needs, its complexity and the trustee and sponsoring employer's own skills. So understanding what you are paying and the range of charges for each type of cost is important.
We have produced a tool that shows information about costs in schemes of various sizes. You may find it helpful to compare what you pay to run your own scheme against the typical cost for schemes of a similar size.
You can use our tool to view highlights from our defined benefit (DB) scheme running costs research report 2014 and compare costs information for schemes of a similar size to your own.