In this context the UK Investment Association and the Association of British Insurers created the Defined Contribution Pension Template (DCPT).
The DCPT is used to provide UK pension scheme managers with cost and portfolio related information. In parallel the independent Cost Transparency Initiative (CTI) was introduced.
This initiative provides institutional investors with standardised reporting templates (CTI, ICT).
The use of DCPT and CTI/ICT templates is currently voluntary. However a binding directive is being discussed by the FCA. Firms managing or selling investments in the UK will not be able to avoid the use of these templates for long.
Regularly publishing data under the DCPT and CTI standards brings additional challenges around data management, transaction cost calculations and reporting. It would be ideal if companies could leverage their existing reporting infrastructures.