She said anyone worried about small pension pots being eroded by charges who has a number of them from old jobs could consider bringing them together in one place.
O’Connor said it was “disappointing not to see more at this stage from the DWP on what a fair charging system for pensions looks like”.
She continued: “It is vital that pension costs and charges are better understood and more comparable for scheme members as fees can make a big difference to retirement outcomes. At the moment, millions of workers paying into a workplace pension are completely in the dark about whether they are getting good value.
“A more transparent and comparable charging structure could finally bring fees into the spotlight and enable people to make better informed decisions about which provider should look after their money.”
Hannah Godfrey is a freelance reporter at FTAdviser's sister publication Pensions Expert
