Pension fees - why most savers are in the dark

There’s been a real buzz in the pensions world following research by People’s Partnership – who provide the People’s Pension.

The research suggested that people could be left more than £70,000 poorer in retirement because they don’t understand charges when transferring their pension.

Many people who’ve recently transferred didn’t know what fees applied to their old pensions or the new one they’d signed up to. And that lack of transparency might leave them out of pocket in the long run.

So, should charges be more transparent, and how should regulators react to this new evidence?

Phil Brown’s guests are Patrick Heath-Lay from People’s Partnership who commissioned the study and Janette Weir of Ignition House who carried it out.