Regulator criticises inconsistent industry action on pension charges

The Pensions Regulator (TPR) also highlighted that it would be looking to assess "value for money" in any review of costs and did not expect a "race to the bottom" for fees. TPR executive director for defined contribution, governance and administration Andrew Warwick-Thompson criticised the Investment Managers Association (IMA), National Association of Pension Funds (NAPF) and Association of British Insurers (ABI) codes of conduct. "What is required is for providers - administrators, platform providers, asset managers - to be entirely transparent and consistent across the market in th...