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PriceWatch widens scope to rate pension wrappers

Skandia is extending the coverage of its platform comparison tool PriceWatch to include pension wrappers.

PriceWatch compares the cost of Isas and unwrapped funds offered by Standard Life Wrap, Cofunds, Nucleus, Transact and Funds Network.

From the end of June, the tool will allow advisers to compare the charging structures of different pension wrappers that are available on these platforms.

Skandia head of proposition marketing Peter Jordan says: “It is absolutely critical to get clarity in the pension arena. The FSA’s pension switching review has put cost firmly on the agenda. The regulator is crystal-clear that, with any business being consolidated into pensions, there must be clarity over the costs but it can be extremely difficult to compare at the moment.”

Strategic Investment Planning managing director Graham Dawson says: “It is positive that Skandia is extending PriceWatch to compare pensions but I think that a service which focuses on qual- itative rather than just quantitative differences is more relevant.”

Skandia is also considering extending the PriceWatch coverage to help advisers conduct due diligence of wrap providers.

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