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

First three firms complete pensions dashboards ecosystem connection

First three firms complete pensions dashboards ecosystem connection

Heywood, L&G and Pension Fusion have completed final stages required to connect

Holly Roach
clock 05 March 2025 • 3 min read
Post-Budget IHT planning: Gifting options in light of pension changes

Post-Budget IHT planning: Gifting options in light of pension changes

Withdrawals need to be spent, sheltered or gifted

Andrew Tully
clock 03 March 2025 • 4 min read
Pension transfers: Transparency vital in push to raise standards

Pension transfers: Transparency vital in push to raise standards

A glass half full for pension transfers?

Anthony Rafferty
clock 28 February 2025 • 3 min read