NEST and KAS BANK explore new transaction transparency tool
May 8, 2019

The National Employment Savings Trust (NEST), the UK Government's Workplace Pension Scheme, is working with KAS BANK, the specialist provider of securities services to the UK pension industry, to assist with cost transparency reporting for its range of target date and specialist funds. 

The claim is that easing regulatory requirements on value for money and investment cost reporting, KAS BANK's Cost Transparency solution could improve the visualization of Nest's transaction costs across its range of managers and funds.

KAS BANK launched the UK's first cost transparency and benchmarking dashboard in 2017, which is now used by ten major UK pension fund schemes. The granular level of reporting offers pension scheme trustees a complete and accessible overview of their scheme's associated charges, crucial when improving the accuracy of cost reporting.

Data collation is streamlined via the KAS BANK Pension Monitor, a proprietary visualisation tool that brings cost transparency data to life. Presented on a dashboard, available online and via an app, the solution provides key cost transparency data efficiently, so it can be easily interpreted and value for money can be readily assessed.

Henk Michels, Director of Fund Administration at Nest, commented: "Pensions schemes like Nest have been asked by government to find ways to help outline transaction costs to our members, something we fully support. We're therefore looking forward to working with KAS BANK, providing transaction data from our fund managers into their cost transparency tool and see what solutions it can offer the wider industry. We're firm believers in strong governance and happy to support innovation which promotes transparency."

Pat Sharman, Managing Director for the UK branch of KAS BANK, commented: "We are delighted to be partnering with Nest, to assist them with cost transparency reporting and the visualisation of transaction costs. We've had first-hand experience in pioneering cost transparency in The Netherlands and recognize it's a growing area for the UK given scrutiny of costs is ramping up. 

"We continue to build on our strong platform to meet the needs of pension clients and we'll be launching our DC (defined contribution) cost transparency solution in the second quarter of this year, helping DC schemes report on their investment costs and value for money."

 





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The National Employment Savings Trust (NEST), the UK Government's Workplace Pension Scheme, is working with KAS BANK, the specialist provider of securities services to the UK pension industry, to assist with cost transparency reporting for its range of target date and specialist funds. 

The claim is that easing regulatory requirements on value for money and investment cost reporting, KAS BANK's Cost Transparency solution could improve the visualization of Nest's transaction costs across its range of managers and funds.

KAS BANK launched the UK's first cost transparency and benchmarking dashboard in 2017, which is now used by ten major UK pension fund schemes. The granular level of reporting offers pension scheme trustees a complete and accessible overview of their scheme's associated charges, crucial when improving the accuracy of cost reporting.

Data collation is streamlined via the KAS BANK Pension Monitor, a proprietary visualisation tool that brings cost transparency data to life. Presented on a dashboard, available online and via an app, the solution provides key cost transparency data efficiently, so it can be easily interpreted and value for money can be readily assessed.

Henk Michels, Director of Fund Administration at Nest, commented: "Pensions schemes like Nest have been asked by government to find ways to help outline transaction costs to our members, something we fully support. We're therefore looking forward to working with KAS BANK, providing transaction data from our fund managers into their cost transparency tool and see what solutions it can offer the wider industry. We're firm believers in strong governance and happy to support innovation which promotes transparency."

Pat Sharman, Managing Director for the UK branch of KAS BANK, commented: "We are delighted to be partnering with Nest, to assist them with cost transparency reporting and the visualisation of transaction costs. We've had first-hand experience in pioneering cost transparency in The Netherlands and recognize it's a growing area for the UK given scrutiny of costs is ramping up. 

"We continue to build on our strong platform to meet the needs of pension clients and we'll be launching our DC (defined contribution) cost transparency solution in the second quarter of this year, helping DC schemes report on their investment costs and value for money."

 



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