Labour slams pension fees 'rip-off'

AOL Money Staff
Ed Milliband
Ed Milliband

Rui Vieira/PA Wire/Press Association Images

Labour is planning to turn its fire on pension companies which rip off their customers with excessive fees and charges, party leader Ed Miliband said.

Mr Miliband described overcharging on pensions as "the next chapter" in the scandals which have emerged in the financial services sector, and said he was "determined" to protect people who are seeing as much as half of their pension savings eaten up by fees.