Pension exit fee consultation excludes common 'high charge trigger'

MVAs, sometimes called market value reductions, are an adjustment to the underlying value of a person's rights in a with-profit fund contract when that person leaves the scheme before their selected retirement date. Talbot and Muir head of pensions technical Claire Trott said the exclusion of MVAs was "interesting" as these were often the cause of high charges experienced by people looking to access their pension pots using freedom and choice. She added their exclusion could mean there is "little need for the government to legislate" to reduce exit charges for those taking their bene...