Costs & Charges Team

The Costs & Charges Team was the first Transparency Task Force Team to be formed and it has laser-like focus on making costs and charges in pensions and investments more transparent.


Transparency on costs & charges is so important because it will encourage a more competitive market and thereby generate better net results to savers and investors, particularly pensions savers. Because of the long-term nature of pensions investing, even a small reduction in overall charges can generate a huge improvement in outcomes for pensions savers when they reach retirement age. 


The highlight so far of the Costs & Charges Team's work has been its costs & charges research, presented on 1st July 2016 at a special meeting held at Cardano’s offices in London. The research was presented to senior representatives from:


  • The Financial Conduct Authority
  • The Pensions Regulator
  • The Pensions Management Institute
  • The Investment Association
  • The Department for Work and Pensions
  • The Financial Services Consumer Panel

…plus over 20 other relevant industry bodies and key market participants. The research and the event was covered on the front page of the Financial Times - not bad for an organisation wihout any PR budget (in fact no budget for anything!).


The Team’s principal Leader is Ralph Frank, CEO DC (UK) at Cardano, who is also an Ambassador of the Transparency Task Force.


Also, Ralph and others played a key part in a very special meeting, held at the House of Commons in September 2016 that I was extremely proud to have Co-Chaired with Tom Tugendhat MBE MP who has long been campaigning in his own right for greater transparency on costs and charges. Tom has been wonderfully supportive to the Transparency Task Force.


The event at the House of Commons was the first ‘Transparency Strategy Summit’ in the World, and dealt with the question: “What can we collectively do to help protect the UK’s pension savers from hidden costs and charges?”


The following organisations wer ein attendance/involved:


  • The Financial Conduct Authority
  • The Pensions Regulator
  • The Investment Association
  • The Department for Work and Pensions
  • The Financial Services Consumer Panel
  • The Association of Member Nominated Trustees
  • The Pensions Administration Standards Association
  • The Pensions Advisory Service
  • The Association of British Insurers
  • Her Majesty’s Treasury
  • The Bank of England fact, just about every relevant trade body and professional association took part in the discussion.


You can view the members in our Costs & Charges Team and all our other Teams, and our Ambassadors by downloading the spreadsheet that you can access through this link; scroll to the bottom of the page.


If you would like to know more, please contact me through


Thank you!

Click on the icon below to read TTF's response to the Investment Association's proposed Cost Disclosure Template:

TTF Response to the Investment Association's Draft Cost Disclosure Code
TTF response to IA's Draft Cost Disclosu[...]
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