Govt must act now on 'rip-off' pension charges - Labour

Gregg McClymont urged the coalition to move on its plans to deal with unfair high pension charges sooner rather than later. Yesterday, pensions minster Steve Webb said the government was prepared to act to cap charges on pension saving and urged providers to rewrite unfair terms and conditions which have trapped people in old-style schemes with high annual charges. Webb's announcement followed a report from the RSA highlighting the ‘extraordinary' breadth of hidden charges on pensions. Labour leader Ed Miliband also made a speech on the issue. McClymont (pictured) said ministers' m...