The PLSA has responded to the FCA’s consultation on transaction cost disclosure in workplace pensions. We have welcomed the positive direction of the proposed policy and the benefits for schemes and members that greater visibility of the costs and charges will bring. 

Whilst we recognise the FCA’s concerns, with regard to mandating the presentation of disclosure costs, we believe it is critical that the methodology for cost disclosure develops in a clear, consistent and comparable manner.  This will ensure the policy objective can be delivered and avoid the risks, costs and complexity associated with both developing and using differing models of reporting.