FSA scraps SIPP fee disclosure exemptions

The watchdog's latest personal pensions consultation said it would proceed with the proposal to remove the SIPP disclosure rules exemptions. From 6 April next year operators will be required to provide key features illustration (KFIs) and show how charges impact upon a consumer's investment return. Prior to today's policy statement, SIPPs were exempt from the disclosure rules applying to other personal pension schemes. It will also introduce guidance to make it clear that is a scheme is invested in volatile assets "standard deterministic projections should be prepared using the bes...