On 3 June 2021, the FCA issued a statement on its website concerning the publication of costs and charges data by workplace personal pension providers.
In the statement the FCA refers to its earlier consultation paper on requirements for workplace personal pension scheme providers to publish costs and charges data, and the resulting policy statement which contained final rules.
The FCA states that the first publication of data under these rules is expected to take place this summer, when Independent Governance Committees (IGCs) publish their annual reports.
The FCA reports that it has since received correspondence from firms and has held discussions with both firms and IGC members. These discussions have revealed different views among stakeholders as to whether the data should be published at the level of the arrangement with each individual employer, or whether it should be published at a higher level, with the data indicating the range of charges paid by members in different employer arrangements in one overarching scheme.
In the statement the FCA outlines these 2 views and its expectations of firms for the first publication of the data.