The following link has just arrived in my inbox: https://www.gov.uk/government/news/government-requires-providers-to-disclose-all-hidden-pension-charges
It’s fairly self-explanatory, and it’s a welcome move that we may finally have some levelling of the playing field so that all charges are recorded and shown.
Yet whilst it’s welcome, it may just serve to make an already chaotic picture more confused. Will this edict extend to the number of investment transactions as well as the costs in each transaction for instance? Will those transaction numbers be subject to any scrutiny? And how can this data be easily collected and reviewed by those responsible for policing this?
I suspect that not all the answers will be that clear in the first cut (pensions is nearly always too complex for that), but we will just have to wait and see.
The other key point is that the charges consultation response is mentioned as expected “soon”. So hopefully some concrete progress to report here in the not too distant future.
Best regards
Steve
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