Govt to force full disclosure on pension charges

Pensions minister Steve Webb confirmedthe government will introduce transparency requirements on transaction charges in workplace defined contribution (DC) schemes. In a written statement, Webb said the government will table an amendment to the Pensions Bill entering its Lords report stage, which will place a duty on the Secretary of State for Work and Pensions to lay regulations requiring "greater transparency around the transaction costs incurred by work-based defined contribution (DC) schemes". Webb said: "Requiring increased transparency is the latest step in the wider government ...