Pensions changes risk savers being ripped-off, says TUC
“As the valuable research from Which? shows, millions of people could lose thousands of pounds due to excessive charges in retirement at the very time they should be enjoying the fruits of their savings. Consumers do not want the freedom to be ripped off.
6 March 2015
Commenting on the launch today of the Which? Better Pensions campaign, TUC General Secretary Frances O’Grady said:
“As the valuable research from Which? shows, millions of people could lose thousands of pounds due to excessive charges in retirement at the very time they should be enjoying the fruits of their savings. Consumers do not want the freedom to be ripped off. And there is no better way of deterring a generation from saving for their old age than another pensions scandal.
“The problem with the Chancellor’s approach is that while there was much wrong with the annuity system, he has done nothing to replace it with a system that will work for consumers.”
NOTES TO EDITORS:
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Contacts:
Media enquiries:
Alex Rossiter T: 020 7467 1285 M: 07887 572130 E: arossiter@tuc.org.uk
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Clare Santry T: 020 7467 1372 M: 07717 531150 E: csantry@tuc.org.uk
Kay Atwal T: 020 7467 1385 M: 07941 547469 E: katwal@tuc.org.uk
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