Private Pensions (Charges, Disclosure and Accountability) Bill

Summary

A Bill to require firms offering regulated private pensions services to exercise a fiduciary duty of care to consumers and other users of financial services, to exercise due diligence when making decisions on behalf of consumers, to provide clear information to consumers on all charges and costs paid by the consumer or the pension fund on the consumer’s behalf and to disclose any conflict of interest and potential conflict of interest including commercial relationships that might result in or be perceived to result in financial detriment to consumers or undermine the integrity of financial markets; to make provision for disclosure by postcode of the location of investors in private pension funds; to make provision for an Annual General Meeting for each private pension fund; and for connected purposes.

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