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ABI responds to FCA announcement on disclosing cost and charges to the workplace pension scheme

Today the FCA issued a policy statement on reporting costs and charges information to workplace pension scheme members.

Commenting on the announcement Hugh Savill, Director of Regulation at the Association of British Insurers said:

Hugh Savill.jpg“We support measures to improve transparency that helps customers to make more informed choices, but we do not believe these measures will achieve this. While we are disappointed with these requirements, which still risk overloading customers with information, we recognise that the FCA has taken onboard some of the industry concerns regarding the volume of data to be published. The industry will work towards the first publication date of July 2021.”



Last updated 04/02/2020