KAS BANK’s cost transparency solution is to offer UK defined benefit (DB) and defined contribution (DC) funds and their trustees the ability to benchmark costs relative to other pension schemes.
The solution allows comparisons to be made across areas such as total cost of ownership, pension management costs, investment management fees, and transaction costs to give pension schemes and trustees the flexibility to compare the costs of investment managers within their pension scheme.
The benchmarking closes the information gap for pension funds, providing insights for trustees to assess how they compare on cost, and they can use this knowledge to drive more cost efficiency.
Pat Sharman, UK managing director for KAS Bank, commented: “Our work to support UK pension schemes on the benefits and implementation of cost reporting has gone from strength to strength.”
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