Why Labour is right to threaten a cap on drawdown fees

We owe it to ourselves as pension professionals to make sure that we treat our customers fairly. Over the past three years we have seen moves to restore confidence in pensions: the retail distribution review, auto-enrolment and the pension freedoms introduced in the budget have materially improved the quality and quantity of pension saving in the UK. But there remain dark pools where the light of reform has not shone, and the management of much of the money currently being drawn from self-invested personal pensions (SIPPs) is the darkest. It is quite common to find layers of fees b...