Guy Opperman: Public find pensions cost and charges 'impossible to comprehend'

‘Make it more accessible’

Ayesha Venkataraman
clock • 2 min read

Many aspects of pensions, particularly the cost and charges structure for workplace pensions, are not sufficiently accessible to the wider members of the public, said pensions minister Guy Opperman.

Speaking at the Lang Cat Live event on Thursday (10 February), Opperman was asked whether pensions work for real people to which he responded, "not enough," due to the industry's inaccessibility and lack of customer focus. "It has really struck me that the business talks to itself a huge amount, it doesn't necessarily talk to its client and its consumer, and my constituents nearly enough. That would be my takeaway," said Opperman. In particular, he singled out the inaccessibility of the cost and charges system which he said is "utterly incapable of price comparison". Opperman champ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Guaranteed income integration critical to guided retirement success

Guaranteed income integration critical to guided retirement success

Research finds annuitisation rates of 55% to 60% are possible without compulsion

Jonathan Stapleton
clock 16 September 2026 • 5 min read
DWP seeks small pension pot default consolidator solution

DWP seeks small pension pot default consolidator solution

Government aims to have small pot consolidation operational from 2030

Jonathan Stapleton
clock 15 September 2026 • 2 min read
Adviser chases Hartley Pensions for ten months over clients' SSAS transfer

Adviser chases Hartley Pensions for ten months over clients' SSAS transfer

Takes case to The Pensions Ombudsman

clock 10 September 2026 • 2 min read