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TUC welcomes FCA proposals to improve protections for pension savers
Commenting on the publication yesterday (Wednesday) of the Financial Conduct Authority’s final report of its Asset Management Market Study, TUC General Secretary Frances O’Grady said:
“For working people to enjoy a decent retirement, their pension savings must be used as effectively as possible. But the financial regulator has confirmed that investment fees are poorly understood, and there is weak price competition.
“We strongly support the proposals for a single all-in fee, consistent standards for disclosing costs, and better governance structures. But a voice for savers in the oversight of their pension funds is needed too, so trade unionists must play a full role in the new governance arrangements.”
Notes to Editors:
- All TUC press releases can be found at tuc.org.uk/media
- TUC Press Office on Twitter: @tucnews
Contacts:
Press Office T: 020 7467 1248 E: media@tuc.org.uk
Alex Rossiter T: 020 7467 1285 M: 07887 572130 E: arossiter@tuc.org.uk
Tim Nichols T: 020 7467 1388 M: 07808 761844 E: tnichols@tuc.org.uk
Elly Gibson (Mon to Thurs) T: 020 7467 1337 M: 07900 910624 E: egibson@tuc.org.uk
Michael Pidgeon T: 020 7467 1372 M: 07717 531150 E: mpidgeon@tuc.org.uk
