The Competition and Markets Authority (CMA) has announced a full-scale investigation into the funerals sector, following a consultation on their proposal to do so last year.
They remain concerned about the effectiveness of competition in the market and will have the power to make legally binding orders, if appropriate.
In running the only UK-wide advice service for people in financial need when arranging a funeral, over many years QSA has seen the impact that unjustifiable funeral price hikes have had, particularly on the most vulnerable customers.
We support the investigation and hope that it results in price caps, improved price transparency and establishment of an appropriate regulatory body. You can read our full response to the CMA's consultation online here.
Some of the CMA's concerns include:
- Rising average funeral costs. Essential elements have increased by 6% each year, which is double the rate of inflation, for the last 14 years.
- People's vulnerability during the time that they need to organise a funeral, meaning they may not be able to consider their options fully which can make it easier for funeral directors to charge high prices.
- A lack of transparency from some funeral directors in disclosing their prices, making it hard for customers to compare from one to another.