FSA: Personal pension charges must be clear at point-of-sale

In a policy statement published today, the FSA said it believes consumers must be able to see the effects of adviser charging on their personal pensions and that this is best done through point-of-sale key feature illustrations (KFIs). The regulator said will consult further on how to present information on charges in situations where payment of adviser charges is facilitated before funds are invested in a product. The FSA will also encourage pension providers to use a new format for its effect of charges (EoC) tables presented to personal pension investors. In their new format, Eo...