Webb: providers should rewrite unfair pension charges

He said people trapped in old-style pension schemes with excessive charges should be offered a fairer alternative, without exit penalties by providers. Webb told the Telegraph he would crack down on excessive fees in place on old-style pensions, which can see savers charged up to 4% of a pot's value every year. He said thousands of people are trapped in such plans. The report said savers can be charged up to 20% of the pension if they want to transfer to a better value scheme. It said hidden fees can wipe up to £100,000 off the value of a worker's pension. Writing in the Daily T...