Low interest rates and high fund charges mean thousands of pension savers are losing money in cash funds that are supposed to be a safe haven from volatile stock markets.
Savers in the Standard Life Pension Managed Cash are losing money because the 1% annual charge is higher than the returns on the fund. But it's not the only fund suffering.
How can you ensure a better return on pension funds on deposit?
John Douglas from independent financial advisors Invesco explains.
This item was first broadcast on Radio 4's Money Box on Saturday, 12 December 2009