Pensions industry making ‘fat living’ from charging savers, MPs claim

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MPs call for greater scrutiny of pensions to prevent misinformation and overcharging

Parts of the pension industry are making a “fat living” from people’s savings and should come under tougher scrutiny, MPs have said.

In a damning Commons report, the work and pensions committee called for the government to take urgent action against pension funds that fail to disclose how much they charge savers, saying it is “unconvinced” that the industry will act voluntarily on providing transparent information about the costs and charges of investments.

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