The "massive fees" tend to be a percentage of what's in the percentage, as is the compounded interest. You could invest it yourself if you don't want to pay someone else to do it for you!
All the older chaps at work chastise the grads for not putting enough into the pension pot - they are all on ridiculous final salary schemes whereas we are on an absolute bare minimum pension. Factor in ridiculous rents (also going to the older generation . . .) and the student loans then there's not much left over to chuck in. An engineer who is retiring next year is moaning as his pension will put him into the 45% tax bracket. My heart bleeds for him
Apparently so
I used to have a Mondeo, but it was an 8-year old one that cost about £2k!