Advisers are accused of a lack of transparency Pension scheme managers have been blasted in a parliamentary report for making a ‘fat living’ from customers’ savings.
In a scathing report on the functioning of the UK pensions industry, Westminster’s Work and Pensions Committee says it is “unconvinced” that the industry will rise to the challenge of providing clear, transparent information to pension schemes about the costs and charges of investments.
It says “Government and regulators should not wait for the industry to fail to act voluntarily as they have so many times in the past”, and should instead move now to […]
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