CGU Life is warning the Government's proposals for minimum standards for charges under stakeholder will restrict the quality of products and advice available.
The life office says value for money is important for both providers and consumers. But it believes this should not compromise consumers access to quality products and quality financial advice.
CGU says the stakeholder charging standards should allow for the cost of advice to be built in to the charging structure.
CGU says: "We recognise the importance of providing consumers with simple, value for money, flexible pensions. We believe that consumers should have access to quality advice and the cost of providing that advice should be allowed for in the maximum charge.
"We are pleased that the Government is going to review the maximum charge after further consultation on advice arrangements."