Consumer panel hits out at DC pension charges

The demise of defined benefit (DB) schemes has placed more importance on DC pensions and, though the auto-enrolment initiative is welcome, there "are still too many high-charging schemes which eat unfairly into yield", said FSCP vice chair Kay Blair. According to the Panel, more needs to be done to ensure members get a fair deal from their DC pensions, including reducing complexity and tackling the cost-effective treatment of small pension pots. Blair, speaking on Monday at the Westminster and City conference on Decumulation Policy, also highlighted the lack of consumer understanding ...