November 2022: Cost Transparency Report

14 November 2022: The Pensions Council has published its Cost Transparency Report, originally submitted to the Minister in July 2022. This report considers the merits of cost transparency for pension savers and advocates a simplistic approach to avoid detail that requires significant interpretation, meaning that the information can be used by a range of stakeholders. The approach outlined in the report would enable pension savers to make meaningful value for money comparisons across pension arrangements as well as a comparison of value for money over time; it could highlight (and drive out) potentially inappropriate behaviours and create natural competition.