It’s hard not to notice the Pensions Regulator executive director for defined-contribution June Mulroy she is not exactly your stereotypical regulatory official. To start with she is a woman and she dresses in quite an unusually flamboyant way, her hair is dyed pink and she is plain talking. She has been tasked with kicking the pensions industry into action on some pretty sensitive and entrenched issues, such as pension charges and the disclosure of costs.
She says: “We have had some very interesting conversations with people about what their charges are. Interesting in the Chinese sense. Nobody can really tell us what their charges are. We have done a lot of research, so we know some of the things that are underneath the charges. But we really had to dig to get people to be honest and open”.
“There is an awful lot of Tommy Cooper that goes on when people try to describe charges but I do not think it is as complicated as certain people in the industry try to make out. It is no more complicated than forms of pricing are in any financial product.”
Mulroy is attempting to break through some of the jargon and complexity of the pension industry as she looks to improve both the quality and the comparability of DC schemes.
Your pension requirements might not be as flamboyant as June Mulroy but plain talking is what Enable like and reputable Independent Financial Advisors like Enable of Bishop’s Stortford are happy to talk through your pension provision with you.
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