A Call for Evidence on improving the reporting and disclosure of information about transaction costs in occupational and workplace personal pension schemes.
Why are we seeking views on this?
This is a joint Call for Evidence between the Department for Work and Pensions and the Financial Conduct Authority. It explores:
- how improved transparency in the reporting of information about the transaction costs and charges incurred by members of workplace pension schemes can be achieved
- what costs should be included in transaction costs reporting
- the basis on which costs should be captured and reported
- whether other factors that influence investment returns should also be provided
- how Independence Governance Committees (IGCs) and trustees will receive transaction cost information and whether additional disclosure requirements on other parties are necessary to enable this
- when, how and in what format information should be provided and to whom
Discussion paper 15/2 [PDF][1]
Transaction Costs Transparency[2] – Novarca was commissioned by the FCA to examine transaction cost transparency within Group Personal Pension (GPP) products.
Who does this discussion paper affect?
The call for evidence is primarily aimed at
- those involved in designing and running workplace pension schemes
- pension industry professionals and advisers
- pension scheme members
- consumer groups
- member representative organisations
- anyone with an interest in pensions
What are the next steps?
Please send us your comments by 4 May 2015, using the online response form[3].
We will consider all responses received to the call for evidence. These will be used to shape our proposed rules, which we will consult on in Autumn 2015.
Want to find out more?
For more information: