Scottish Widows to scrap workplace pension exit fees

The government has announced plans to curb "excessive" pension exit penalties to ensure everyone has easy access to pension freedom reforms. The Financial Conduct Authority is currently consulting on what level to set the cap, however, Scottish Widows said it had decided to cut fees altogether.  The provider said it was also in the process of reviewing the exit charges on its individual pensions. Head of industry development Peter Glancy said: "We believe more can be done to make the pensions market work better for customers and the removal of exit fees is a key milestone in helpin...