The draft Pensions Bill does not do enough to protect consumers from obtuse and excessive charges, a Conservative MP claims.
Warrington South MP David Mowat said that pension charges are too complicated and with auto-enrolment (AE) underway the government must act. Mowat, who is also parliamentary private secretary to financial secretary to the Treasury Greg Clark, made his claims in a column in the Telegraph. He said: "Charging structures are far too complicated. I have a double maths A-level, an engineering degree and I am a chartered accountant. I can just about understand this stuff. The majority of people who will be buying these products will struggle to understand exactly what they are purchasing." ...
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