Three things we learned this week

Retirement Planner’s round-up of the top pension stories this week.

Miliband attacks pension charges and ‘rip-off' banks

Labour leader Ed Miliband has launched a campaign to protect consumers from "predatory" practices by pension providers and banks.

Miliband, who has faced accusations he cannot lead the party over the past few weeks, outlined his plan in an interview with the Telegraph.

He called for a new consumer watchdog to protect people from "irresponsible" companies.

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LTC fees cap to almost double - report

The government is expected to recommend a cap on long-term care (LTC) fees of between £50,000 and £60,000, according to a report.

This would be almost double the £35,000 ‘most appropriate and fair' figure suggested by the Dilnot Commission last summer but is at the upper end of its favoured price range.

Britons are also likely to be encouraged to prepare for the potential costs of old age by a national awareness campaign prepared jointly by the Government and financial services industry to highlight the importance of planning for care costs.

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SIPP boom is over, says former James Hay director

The boom in SIPP sales that has seen numbers of the products grow to 700,000 is over, a former James Hay Partnership director has said.

Richard Mattison, who was business development director at James Hay until September 2011, said sales of "true SIPPs" offering total flexibility "plateaued some time ago".

His comments contradict predictions made by MoreToSIPPs director John Moret, who has claimed SIPP numbers will hit 1.2m by 2015.

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