As of 2014 workplace pension saving schemes providers will disclose fees and charges upfront. ?Major firms such as Aviva, Prudential and Standard Life have pledged to clearly and consistently reveal the pension charges to savers in the future.
Steve Webb, Minister for Pensions, MP said: ?This is a welcome step in helping customers make decisions about their long-term savings and I hope to see providers across the industry signing up to this agreement.
?Charges really matter ? small differences can have a big impact on a pension pot over time. Automatic-enrolment makes it all the more important that people have access to schemes which offer both transparent and value for money charges. The industry must be ambitious in its timescales for achieving greater transparency.?
Source: http://www.chilterndebtmanagement.co.uk/debt-management-news/pension-providers-set-reveal-fees/
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