Leggett hits out at FSA proposals for SIPP disclosure

The independent retirement expert said a key feature illustration shake-up, outlined by the FSA in paper CP12/05, is unlikely to improve consumer communications and will cost the industry millions. Leggett said: "There is no tangible basis for believing the key features illustration proposals will lead to better consumer outcomes." The Association of Member-directed Pension Schemes (AMPS) worked with the Association of British Insurers in 2009 to produce a guide for fee schedules, which according to Leggett has been adopted by 50% of a sample of SIPP providers. He conducted researc...