Disclosure of costs, charges and investments in DC occupational pensions
UK Department for Work and Pensions
This paper forms the Government’s response to a consultation on the draft Occupational Pension Schemes (Administration and Disclosure) (Amendment) Regulations 2018, which ran from the 26 October 2017 to 7 December 2017. The draft Regulations were designed to:
- introduce requirements for certain occupational schemes offering money purchase benefits to publish charge and transaction cost information, disclose this to members and others, and tell members where to find it; and
- introduce requirements for the same schemes to provide information, if a member or a recognised trade union asks, about the pooled funds in which they are invested.
2. The proposals follow earlier calls for evidence on:
- improving transparency in workplace pensions: transaction costs disclosure; and
- investment disclosure.
3. The consultation applied to England, Wales and Scotland. It is anticipated that Northern Ireland will make corresponding regulations for pension schemes located there on charge and cost publication and disclosure, and for investment disclosure.
4. Given the high level of interest expressed in this short consultation by respondents from across a very wide range of sectors, we have decided to set out in more detail the comments received, how Government has considered and
taken account of these, and the conclusions it has reached.
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