Select committee's new inquiry misses the point

From the blog: It is bizarre that the Work and Pensions Committee is questioning whether people understand the cost and value for money of their pension products when the Financial Conduct Authority has only just published research that answers their question.

Its Retirement Outcomes Review states that over a third of consumers who had opted for pension freedoms had no idea where or how their money was invested.

If someone cannot understand the simplest level of information around their contract, they have little or no chance of understanding the costs involved or any concept of value for money.

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