FCA proposes pension providers disclose adviser charges

Under the FCA's plans, providers of personal and stakeholder pension schemes will be required to provide decumulation customers with annual information on all their costs and charges they have paid on their pension. These will include transaction costs and would have to be expressed in pounds and pence. Additionally, pension providers will be required to clarify if any adviser charges have been paid out of the pension. Where there is no known adviser remuneration, the FCA will require firms to state that adviser remuneration is not included in the charges figure provided. FCA presses ...