Minister says UK pension charges pass the 'baked bean test' despite them being among the highest in Europe

Chris, Fee and KJ listen to what pensions minister Steve Webb has to say...

SOURCE TELEGRAPH  Minister says UK pension charges pass the 'baked bean test' despite them being among the highest in Europe
Pensions minister Steve Webb says there is no need for price controls in the "vibrant" pensions market. Asked about the possibility of a cap on charges, he said: "Why doesn't the Government set a price cap on a tin of baked beans? We don't need to because there's a vibrant market, people have lots of choice." Many workers and employers with little previous experience of pension saving will invest in poor value deals, say critics.

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