Cost Transparency Initiative responds to Work and Pensions Select Committee report on pension costs and transparency

Mel Duffield, Chair of the Cost Transparency Initiative, comments on the Work and Pensions Select Committee report on pension costs and transparency:

“The Work and Pensions Select Committee’s support for the disclosure templates developed by the Cost Transparency Initiative is very welcome. However, we are disappointed that the Committee’s report fails to recognise the strong engagement between industry, regulators and Government in adopting the work of the Cost Transparency Initiative.

“Just two months after the launch of the templates, the level of detail in the technical queries the Cost Transparency Initiative has been receiving from investment managers demonstrates the already high level of engagement and take-up by industry.

“The FCA, TPR and Government Ministers have all provided welcome drive and direction, sending very clear messages to the industry about their expectations. We are confident this will help to ensure the success of the Cost Transparency Initiative.”

Mark Smith, Senior PR Manager
 020 7601 1726 |  [email protected]k

Steven Kennedy, PR Manager
 020 7601 1737 | 07713 073024 | [email protected]