MP calls for better disclosure from pension fund managers

During a Parliamentary debate last night, Cruddas said pension savers are ‘shouldering more of the investment risk to their savings' with the growth of defined contribution (DC) schemes and the advent of NEST and auto-enrolment. Greater transparency is therefore essential, he said Cruddas particularly attacked fee transparency and the role of advisers, saying: "we have seen the growth of an enormous cadre of agents and intermediaries who extract huge fees at the direct expense of ordinary savers." He also said the large influence pension funds have in the economy necessitates more scr...