Pension warning: Britons fail to understand charges which could hit them in the pocket

There may also be charges for those who wish to transfer their pension pot. 

The Pension Advisory Service has urged Britons to investigate the charges they could incur when saving into a pension.

It has said pension providers should provide individuals with full details relating to the charges which may apply to their scheme.

It is, however, down to Britons to truly understand the information presented to them, by reading carefully and potentially undertaking more research.