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...

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