Fee Disclosure to Pension Participants: Establishing Minimum Requirements
Every year pension participants pay billions of dollars in fees. They need information concerning fees to make informed decisions about the services they are purchasing...This analysis of fee disclosure takes into account insights from behavioral economics in assessing the usefulness of different approaches...The report proposes a model fee disclosure. It creates a score card assessing the current fee disclosure in six countries: Australia, Canada, Chile, Sweden, the United Kingdom, and the United States.
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Did You Know?
An annuity is a pension benefit that is paid out in a specific amount over a set period of time. Annuities typically last for the lifetime of the participant, or the lives of both the participant and his or her spouse, depending on the type of annuity selected. Joint-and-Survivor and Single-Life are types of annuities.