Gareth Shaw, Which? Money Expert, said:
“The Committee’s report rightly highlights the real need to better protect consumers who are not engaged with their pensions. A cap on charges for default drawdown products is a good measure that will prevent people sleepwalking into excessive fees at retirement.
“A pension dashboard can really help consumers properly plan for retirement. But for it to work, it must ensure all providers sign up so that people can conveniently access all the information they need.”