Pension firms have been warned by the Government’s watchdog that they could have their trustees removed if they fail to come clean about hidden charges, and may have new codes of conduct forced upon them if they fail to go far enough with their own review.

Millions of people saving into private pensions are routinely hit by hidden levies, which typically wipe more than £100,000 from the value of a middle-class worker’s pension. Pension companies have pledged to clean up their act and implement a raft of self-governing codes of conduct that will allow savers to see where their money is going. However The Pensions Regulator has warned that failure by firms to self-regulate will result in it taking its own action against them. The watchdog has the power to ban people from being trustees of schemes. It can also order schemes to improve the way they act towards savers.....Read more here: Pension firms warned to end hidden fees or face sack from industry's regulator - Telegraph