Firms should be legally obliged to provide pension fee information under a transparency law, 92 per cent of UK adults has said according to research conducted by the True and Fair Campaign.

In an online survey among 2,021 adults, 74 per cent of investors said that they wanted costs and fees disclosed as a single, cash figure.

Figures also revealed that 58 per cent said that they did not know the cost of their current investment or pension products including fees surrounding these. This is despite 84 per cent stating that it is essential to understand this.

True and Fair Campaign founder Gina Miller said: “This latest research shows how much savers and investors care about the money they’re being charged by their investment providers.

“While we call for transparency and 100 per cent disclosure, the industry continues to hide under a thin rhetorical veil promising more disclosure, not full disclosure, and wraps itself in opaque, ill-defined guidelines.”

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