Funerals sector under investigation
An investigation is set to be launched into the funeral market, as the Competition and Markets Authority (CMA) looks to ensure consumers are getting the best deal.
As part of a wide-ranging review into the sector, the Competition and Markets Authority is determined to ascertain whether the current market is transparent enough to allow the consumer to make an informed choice as to what funeral option is the most suitable for them. It also aims to see how prices have increased and whether this is proportional to the issues that impact upon them.
Pre-paid funerals and their regulation will not be part of the investigation as HM Treasury has launched a separate Call for Evidence on this sector.
The senior director of markets at the Competition and Markets Authority spoke of his organisation’s forthcoming review, saying: “People can understandably be very emotionally vulnerable when planning a funeral. We therefore think it is important that – at what can be a particularly challenging time – the process is made as easy as possible.
“As part of this study, we want to ensure that people can at least receive clear information on prices and the services making up a funeral and that people get a fair deal on the cremation fees charged.”
An interim report is due to be published in six months, with action being taken on any issues where particular concerns are found.