New findings issued by the Consumers' Association shows that an increase in the charges for stakeholder pensions could lead to an exacerbation of the pensions crisis.

Government Response: Department for Work and Pensions

A spokesperson for the DWP said: "We are examing the charges and looking at what changes need to be made to that.

"We take on board what the Consumers' Association says. But we want to ensure that stakeholder pensions continue to provide the opportunity for people who work in an environment where they cant make regular contributions to save for a pension."

Forum Response: Consumers' Association

Mick McAteer, principal policy adviser at the Consumers' Association, said:  "Confidence in pensions firms has already been shattered. Allowing mistrusted pensions firms to charge more for pensions would be perverse and misguided. It would price more people out of the market, reduce incentives to invest in a pension and risk massive mis-selling.

"Consumers are fed up with an industry that is rife with risky products, dodgy advice and high charges.  In such an environment the government should be taking steps to restore confidence and provide access to decent, affordable secure pensions and objective financial advice."