ABI urges regulators to unify on pension charging disclosure

In a letter to TPR chief executive Bill Galvin and FSA conduct business unit director Martin Wheatley, Thoresen said the disclosure of charges to consumers should be the same across contract and trust-based schemes. "We have significant differences in the way information on charges is handled," said Thoresen (pictured). "Contract-based pensions disclose all appropriate charges at the outset. Trust-based pensions have no employee disclosure regime when an employee joins. Neither type of pension scheme necessarily discloses charges consistently on an on-going basis." He said transact...