The government and regulators should not wait for the industry to "fail to act voluntarily" to provide value for money in pensions, the Work and Pensions Committee (WPC) says.
In a report on pension costs and transparency, published today (5 August), the committee said that, while the government and regulators are alert to concerns over cost disclosure, there should be no cause for complacency. It said industry involvement is important to ensure that policies work in practice—but the overall drive and direction must come from the government and regulators. While the WPC said it recognised that value for money is not solely about costs, it added they inevitably form an important part of the equation. Schemes should therefore clearly communicate their inte...
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