Cost Transparency Initiative names new board members

The Cost Transparency Initiative has announced that 10 new members are joining its board.

The new members of the board are: Jenny Condron (Association of Consulting Actuaries), Joe Dabrowski (Pensions & Lifetime Savings Association), Jason Fletcher (LGPS Central Limited), Adam Henley (JP Morgan AM), Jeff Houston (Secretary to the LGPS Advisory Board), Jane Ivinson (Insight Investment), Jonathan Lipkin (Investment Association) Gurpreet Manku (British Private Equity & Venture Capital Association), Angela Roberts (Financial Services Consumer Panel) and Robert Waugh (RBS Pension Fund).

Additionally, representatives from Department for Work and Pensions, Financial Conduct Authority, The Pensions Regulator and the Trade Union Congress will be board observers, and the former chair of the Institutional Disclosure Working Group, Dr Chris Sier, will act as a board adviser.

Commenting on the appointments, the Cost Transparency Initiative chair, Mel Duffield said: “This is another important step and I’m delighted to welcome each of the new members to the Cost Transparency Initiative.

“The board has diverse representation from stakeholders across the industry that will be involved with the templates to ensure all perspectives are represented.

“Each of the new members brings an important level of experience to the group which will help to ensure that this project is a success going forwards into 2019 and beyond.

“I would like to thank each of them for committing to the programme of work and look forward to working closely with each and every one of them.”

The Cost Transparency Initiative was launched in November 2018 to work on implementing, promoting and encouraging the use of new cost transparency templates across the pensions and investment industries.

Since the group's launch, up to 20 participants have been selected to take part in the pilot phase of the templates, due to conclude in March 2019.

Duffield added: “With the appointment of the board and the new templates now being actively tested across the industry, I am confident we are making good progress towards formally launching the new templates in the spring which, once adopted, will make it easier for trustees to scrutinise and challenge costs and deliver value for money.”

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