Bring on a pension price war

Many people are paying too much for their personal pensions, says David Prosser. A probe of the market is not before time.

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Supermarkets show that more competition cuts prices
(Image credit: 2013 Bloomberg)

If you set up your personal pension some years ago, there's a good chance you're overpaying for it. Consumer groups have long argued that many plans are too expensive, and the Financial Conduct Authority (FCA) has now announced an investigation of the non-workplace pensions market.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.