MPs are looking into pension fund costs and charges, and UNISON is asking members to fill in a survey on their pensions.
This will help provide information to be included in the union’s submission to the to the Commons work and pensions select committee, which is carrying out the inquiry.
The union has also produced a briefing on the issues, which will help members fill in the very short questionnaire. The more UNISON members who fill in the survey, the more evidence UNISON will have to inform the submission to the inquiry which ends on 6 September.
The survey is totally anonymous and no individual members’ data will be collected other than their answers to the six questions.
The inquiry by the work and pensions select committee inquiry focuses on whether the pensions industry provides enough transparency around charges, investment strategy and performance to scheme members.
It will look at whether enough is being done to make sure individuals:
- get value for money for their pension savings;
- understand what they are being charged and why;
- understand the short- and long-term impact of costs on retirement outcomes;
- can see how their money is being invested and how their investments are performing;
- are engaged enough to use information about costs and investments to make informed choices about their pension savings.