Oireachtas Joint and Select Committees

Wednesday, 6 February 2013

Joint Oireachtas Committee on Education and Social Protection

Report on Pension Charges: Discussion with Department of Social Protection

1:30 pm

Photo of Fidelma Healy EamesFidelma Healy Eames (Fine Gael) | Oireachtas source

Ms Murphy flagged a number of concerns that I think the Minister should act on. First, in my view the consumer code should provide information not only on the charges that are being applied but on what should have been charged. It is not good enough to tell people what they were charged; it should give information on what they should have been charged to see whether they paid too much. One is not really informing the customer. The purpose of a consumer code is to empower the customer.

Second, I am not clear on the issue of commission. Was a standardised commission applied across the same product, as should have been the case?

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