FCA unveils cost disclosure rules for contract-based pension schemes

In a policy statement published this morning (4 February), the regulator said it planned to phase in its requirements for schemes to publish comprehensive data regarding costs and charges levied on workplace pensions. The decision was based on industry concerns that the amount of work needed to process charges data for all fund options would "pose significant practical challenges" and require major changes to IT systems. Under the FCA's revised schedule, all default funds will be required to publish costs and charges data based on the 2020 calendar year by 31 July 2021. From the fol...