Julian Knight – 2016 Parliamentary Question to the Department for Work and Pensions

The below Parliamentary question was asked by Julian Knight on 2016-06-24.

To ask the Secretary of State for Work and Pensions, on what date the Financial Conduct Authority review on the disclosure of transaction cost information for workplace pension schemes is planned to be published.

Justin Tomlinson

The Government and Financial Conduct Authority (FCA) remain committed to ensuring that members of pension schemes are able to obtain information about the costs and charges which they bear.

Governance bodies of defined contribution workplace pension schemes are obliged, under existing requirements, to assess transaction costs. The FCA is actively considering how to achieve greater transparency and standardisation of these costs, and plans to publish a consultation later this year.