Gov't Complacent About Pension Cost Failings, MPs Say

Law360, London (August 5, 2019, 1:20 PM BST) -- The government is not doing enough to prevent parts of the pensions industry from making a “fat living” from retirement savers, a parliamentary committee said Monday, as it called on regulators to force the sector to disclose clear and transparent information about costs to customers.

The Work and Pensions Committee said it did not believe that pension schemes are doing enough to tell their members about the costs they can run up. Schemes can voluntarily tell investors about costs, but the MPs said they were not convinced that the industry is doing so.

The committee suggested in a report that the...

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