I'm a pensions expert and here are two ways savers can escape Labour's £25bn raid

Savers should consider moving their pension cash or setting up a new pension altogether if they are not happy with Government plans to make invest more money in UK-based private assets. Pete Matthew, a chartered financial planner who presents the Making Sense of Money channel on YouTube, told savers they did have a choice as to where their pension cash was invested, and he urged them to "take control" of their .

In his latest update Urgent pension warning: government risking your money Mr Matthew explains how the Mansion House accord announced earlier this month is likely to affect savers' cash.

He said: "If you have got a pension and you have never checked how it is invested you need to know what is happening, and crucially you need to know what to do about it."

Mr Matthew said: "Two years ago I warned you about the Mansion house reforms. Plans to invest your money into unlisted higher- risk assets."

He explained that the plans have been expanded. He said: "Whether you like it or not a chunk of your pension could soon be moved into riskier more expensive assets without your explicit concern."

Mr Matthews was talking about the so-called Mansion House Accord.

Earlier this month The Pensions and Lifetime Savings Association (PLSA), the Association of British Insurers (ABI) and the City of London Corporation announced the joint initiative involving 17 pension schemes and providers. They pledged to allocate at least 10% of defined contribution (DC) default funds to private markets and at least half of this to UK assets by 2030.

The Treasury said the agreement will see more than £50bn mobilised over the next five years, including £25bn for UK investments; the accord is part of the Labour government's drive to push UK growth.

Mr Matthews explained these private assets included: unlisted equities such as shares that are not traded on public exchanges, property including infrastructure investments such as renewal energy and transport; and private debt which involves lending money directly to businesses rather than buying publicly traded bonds."

"[Privare asset] funds will carry higher risks because private assets are less transparent and can't be so easily traded. "They might promise higher resturns but they come with higher risks and higher costs.

Mr Matthew said: "The government is exploiting wide spread financial apathy and ignorance for political gain [and that] many early- stage companies fail. They alo come with high fees."

"Private assets also have performance fees and those fees are not limited by government caps."

The good news is, he explained, that savers can take control. He said if they are not happy with the plans they should check where their pension money is invested. "If you have never chosen your pension investments you are probably in your pension default fund."

"This is happening to the default fund so first you need to find out where your money is by logging in to your pension company's website. You might need to ask your provider: "Am I invested in the default fund?"

"Check under the bonnet of your pension fund. You can understand it, don't shrug and say you can't."

Second, check your risk profile using online tools such as the , which is free to use.

Third consider shifting your investments, to another fund offered by your pension company. "If those are not suitable you can move your pension to a provider who does offer those funds although if your pension is provided by your employer you may lose your employer's contributions."

Finally savers could also set up a secondary personal pension alongside their company one, where they can put increased contributions.

Mr Matthew explained that there are plenty of online tools and educational videos to help them make sense of the changes.

Anyone concerned about their pension can go online and get advice at support for free at .