FCA require full disclosure of transaction cost from January 2018
Another important advance in transparency in pensions costs in workplace pensions – there should be no hidden charges and full comparability and transparency in all pension products so people can make informed decisions.
Pension funds are accumulated over a life time and even a small cost difference can make an enormous difference over 40 years of transactions.
“I am very pleased to see that the FCA has moved forward with an approach that will enable IGC’s to properly scrutinise costs for the benefit of scheme members,” said Andy Agathangelou, chair of the Transparency Task Force, which campaigns for full disclosure of costs and charges.
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