Steve Webb
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Pensions minister wants 'value for money' on fees

The pensions industry has "for too long got away with high charges", the pensions minister has said.

Steve Webb told the BBC that he wanted to ensure customers got "value for money" by capping management charges at 0.75%.

But leading pensions' provider Legal and General accused him of being "too timid" and said the cap should be lowered to 0.5%.

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