OFT missed the opportunity to better pensions

Hopes that high charges foisted on workers with the foresight to save into pensions would be capped by the Office of Fair Trading (OFT) were dashed as the organisation failed to show its teeth.

The OFT's report into DC pensions was supposed to mark a shake-up in the pensions industry but unfortunately it's only slightly stirred it. After much speculation that it would recommend a cap on workplace pension charges it stopped short, citing three reasons.