A drawdown charge cap should be placed on sales to provider's existing customers to ensure people are not sold inappropriate products after pensions freedom comes into effect, Which? has said.
The consumer organisation said it had conducted a snapshot investigation into the drawdown market and found costs vary significantly. It added, with just one month to go before pensions freedom, it was launching a Better Pensions campaign to ensure people do not lose out if they are sold "inappropriate retirement products". Meanwhile, Labour leader Ed Milliband is also set to call for a cap on drawdown charges, the FT reports. He is set to say Labour would stop "rip-off fees and charges on new pension products", should it win the general election. Which? said there had been a l...
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