Responding to a report out today from the Work and Pensions Select Committee, Rob Yuille, Head of Long-Term Savings Policy at the Association of British Insurers, said:
“Of course consumers deserve to be given clear and useful information about pension costs and charges and ABI members already meet all extensive regulatory requirements on disclosure. Unfortunately this confusing patchwork of rules makes the information presented harder to digest for consumers. We suggest the Committee joins us in calling on the Government and Regulators to better align these muddled regulations in their joint work, to ensure that customers receive key information in an easy-to-understand format.”