The standard templates included in the Code of Conduct set out to ensure that employers are provided with information that is accurate, clear, concise and easily comparable. The templates can be filled out online and printed off for distribution to employers, here.
A new web-tool is being developed by the ABI to provide employers with easy access to examples of how pension charges may affect the pension pots of their workers over time. We expect the ABI to announce the date for the launch of the web tool shortly.
As a result the Code will come into effect in two stages:
Stage 1 begins on January 1, 2013 at which point the Code should be treated as a guide for best practice.
Stage 2 begins one month after the web-tool is launched, (date to be announced shortly). At this point all provisions of the Code apply.
See who was on the working group here.
Read the Pension Quality Mark standard on charges here.
Read the press release announcing the code here.
Read about the summit on charges here.