Why pension savers need more education on fees

Pension investments can come with radically different fees

clock • 4 min read

Education is key when it comes to pension fees, and there is no one better placed to deliver it than advisers, writes Ahmed Bawa

Significant numbers of pension savers have little idea that there are fees involved in their pension contributions, let alone the size of those fees. Recent research from Moneyfarm found that half of Brits were unaware that they were paying annual fees on their pension scheme, a staggeringly high figure. Even among those who do know that fees are being charged, one in two savers don't have the first idea what they are paying. What's more, almost three-quarters of pension savers said they wouldn't even know how to go about checking what they are paying in fees. It's not just that s...

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

FCA to crack down on life insurers with 'slower' pension transfer service times

FCA to crack down on life insurers with 'slower' pension transfer service times

Regulator warns slow pension transfers risk harming client outcomes

Isabel Baxter
clock 15 August 2025 • 5 min read
Tony Müdd: The QROPS market is dead, isn't it?

Tony Müdd: The QROPS market is dead, isn't it?

'The tax a member pays on their QROPS income hinges on a dizzying array of factors'

Tony Müdd
clock 11 August 2025 • 11 min read
Average pension transfer times fall

Average pension transfer times fall

Origo data suggests simpler pension transfers average 10.8 days

Martin Richmond
clock 11 August 2025 • 2 min read