UK - More than two million workers are paying too much for the running of their personal pension plans, Close Wealth Management claims.
Old-style plans, which have annual management charges twice as high as the 1% stakeholder cap, cost an additional £788m a year in fees.
The company urged investors to pay close attention to management fees, and stop contributing to the plan if its fees were too expensive.
The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have outlined plans to better understand the consumer pensions journey as they launch their joint strategy.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.