scheme fees

The pensions industry must become more transparent on costs and charges and hold firm on the merits of auto-enrolment, delegates heard.

Pension funds are developing a code of conduct around charging transparency which will see customers told "in pounds and pence" how much of their savings are lost in management charges.

Some medium-sized pension schemes are shelling out more than three times the fees paid by other schemes with no difference in service levels. We look at the issues involved.