Half of advised clients unaware of pension charges - FCA

The regulator's flagship Financial Lives Survey, for which it interviewed 13,000 people, found half (48%) of advised clients were unaware their DC pensions had charges, while one-in-nine (11%) said they were only aware some of their schemes had charges. This compares with the three-quarters (73%) of non-advised consumers who told the financial watchdog they were unaware of any charges on their DC pension savings. The regulator also found that one-third (34%) of respondents had a ‘low' amount of trust in their DC pension provider and a furher third (29%) had ‘moderate' trust, while one...