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

1:20 pm

Mr. Joe Morley:

The consumer protection code, which the Central Bank introduced in 2012, has a requirement on insurance companies to provide an annual statement to the individuals indicating the opening balance, the moneys paid, the number of units held and all charges and deductions affecting the investment product. That is in place from 2012 and also covers existing products, not just products sold since 2012.