Govt outlines three options to cap 'excessive' pension exit fees

A Treasury consultation paper, released today, said the government was considering three options - introducing a cap on all excessive early exit fees; a flexible cap in certain circumstances; and a voluntary approach to restricting exit fees and charges.  It said, subject to the outcomes of the consultation, the government would consult on the legislative approach in an additional consultation exercise. It added it would also be interested in hearing about alternative policy approaches to address the issue of excessive exit fees. Chancellor George Osborne originally announced plans...