A Financial Conduct Authority (FCA) working group has recommended five institutional cost disclosure templates, although it says these should not be made mandatory.
The FCA introduced new regulations around the measurement and disclosure of transaction costs in January. Jon Parker looks at how trustees should respond.
Stewart Bevan says there's a long way still to travel to achieve transparency, but at least we are now making genuine progress and picking up the pace
Granting statutory protection to pre-1997 benefits in defined benefit (DB) schemes would be an unfair cost to sponsors and would force even more closures, according to this weeks' Pensions Buzz respondents.
Over 170 asset managers have rejected an initiative which requires better disclosure of fees UK public pension funds are charged, despite increased regulatory pressure on costs throughout the industry.
The Pensions and Lifetime Savings Association (PLSA) needs a greater number of more active members to drive its policy development and arguments, Richard Butcher has said.
The industry has welcomed the Competition and Markets Authority's (CMA's) working paper on the information available to trustees on the fees and quality of investment consultants and fiduciary managers.
Defined contribution (DC) schemes will face new duties to disclose investment costs and charges as the government presses ahead with a bid to build a more transparent and trustworthy pensions sector.
A new cost transparency solution is being developed for pension schemes by a financial services technology firm.
Transparency Task Force calls for IA's Cummings to apologise over 'offensive' Loch Ness fees comments
Gina Miller and others deserve ‘apology…public recognition and thanks’
PTL has introduced an investment cost assessment service to slim down and simplify costs and charges scrutiny for trustees.
This year will see consolidation, cyber risk and cost transparency dominate the industry's focus as schemes bid to improve value for money and meet data protection requirements.
The pensions and financial inclusion minister has rejected suggestions that the government is dominated by Brexit discussions and has no time to deal with pensions issues.
Chris Sier has called on investment consultants to take the lead on disclosure of costs and charges as for too long asset managers have not put pension clients first.
Defined contribution (DC) occupational schemes will be forced to disclose to members costs and charges associated with investing their retirement pots, the government has announced.
A raft of consultations and draft regulations will greet the industry over the coming weeks and months, the pensions and financial inclusion minister confirms.
Regulator does not want to 'incentivise short-termism'
Government and regulatory focus on costs and charges will shift to defined benefit (DB) schemes over the coming years, PTL has predicted.
Jonathan Stapleton says we need to increase DC scheme fees if we hope to improve investment quality and the sustainability of providers.
Henry Tapper says removing NDAs between operators and fund managers is a critical step in the journey towards assessing value for money
Chair of FCA cost disclosure working group
The FCA has taken a further step towards DC cost disclosure but, as Jonathan Stapleton says, such transparency will have its own hidden costs.
From 3 January next year, firms looking after DC members' money will need to comply with new disclosure requirements. James Phillips reports.
B&CE has published a full breakdown of transaction costs for The People's Pension - revealing both the explicit and implicit costs for its default fund - and has also called for the introduction of a soft cap on such costs.