Govt to 'closely monitor' drawdown charges as market expands

Speaking in the  House of Lords, the minister of state for welfare reform said the government was monitoring the growing drawdown market, which is predicted to increase on a massive scale as people choose to keep their pension pots invested. Freud (pictured) said: "We already have the power to limit or ban decumulation charges and if we see that providers are charging excessive fees, we will not hesitate to act. "We are going to see how the market develops. It has only been going for two months. "If it looks appropriate we will introduce caps.I know that my new noble friend, the Mi...