Following ABI’s letter on pension charges and costs to the FSA and TPR, Jonathan Lipkin, IMA’s Associate Director of Pension and Research, said: "Trust and confidence are both prerequisites for a successful retirement savings culture. This principle also holds true for other long term investment products and should apply at both UK and European levels. The robust disclosure regime for UCITS investment funds offers a potential template.“
“As the IMA's work on enhanced disclosure of costs and charges shows, we also agree that transaction cost information should be more accessible and are committed to achieving this goal. This will take the UK funds industry well beyond existing EU requirements and could be adopted for DC pension schemes. With automatic enrolment looming, the pensions industry has both the opportunity and the responsibility to improve disclosure. As part of this, asset managers are already in a position to provide consistent information about the products for which they are responsible. Collectively, we should work to ensure all information for pension savers is meaningful, transparent and consistent."
Press release
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