Labour pension charges report 'hugely misleading' - ABI

A report, drafted by shadow work and pensions secretary Liam Byrne, backed Ed Miliband's accusation last week that in a worst-case scenario half of a saver's pension pot could be swallowed up by charges. However, director general of the ABI, Otto Thoresen, said the calculations in the document had a 'back of an envelope' feel. He said: “This is a disappointing and hugely misleading report from Labour. Most private pensions work well for their customers, charge fairly and give clear information about how they work. “Charges have been falling steadily for the last decade and the averag...