The government and regulators should not wait for the industry to "fail to act voluntarily" to provide value for money in pensions, the Work and Pensions Committee (WPC) says.
A platform to help pension funds collect and analyse cost data, such as transaction costs, has been launched by Chris Sier, who has played an integral role in the fight for transparency.
An in-depth study by CEM Benchmarking shows transaction costs for large pension schemes are significant and largely depend on investment strategy. Stephanie Baxter analyses the findings
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
The FCA introduced new regulations around the measurement and disclosure of transaction costs in January. Jon Parker looks at how trustees should respond.
Kim Kaveh looks at how trustees and pension executives can develop an appropriate approach to understanding and managing costs.
The independent governance committee (IGC) for Prudential has improved value for money for members by simplifying charging structures and starting to shut expensive funds, according to its third report.
Fund groups have been criticised as newly disclosed transaction costs under MiFID II show the actual cost of ownership of some of the UK's most popular funds is as high as 85% above previously disclosed OCFs.
A typical defined benefit (DB) pension fund could cut costs by around a third per year by centralising and standardising their investment, administration and trading functions, according to the Asset Management Exchange (AMX).
Disclosure of investment costs can be achieved without necessarily finding out the true value of implicit costs, Kempen Capital Management argues.