Cost transparency can offer a comprehensive overview of a pension scheme’s administration and investment costs, providing holistic understanding of the underlying costs incurred within a scheme. In fact, full cost transparency has been a long time in the making. Key to the wider adoption of cost transparency was the need for an industry standard cost collection template, alongside increased regulatory focus and a wider recognition of the important role of governance. The benefits of widespread cost transparency implementation by pension schemes has been made clear in the Netherlands, where KAS BANK has been collecting, processing and reporting on cost data for over 7 years. We have developed deep insight and understanding into the collection and reporting of costs.
Access to cost transparency information can help trustees make more informed decisions, analysing their cost data in the context of their pension scheme strategy, assist with value for money assessments, potentially improve member outcomes and in turn, will boost trust and engagement across the pensions industry. We have cost transparency covered.