Pru cuts workplace pension charges by 15%; Axes exit fees

The IGC's first governance report found although the majority of members were getting value for money, there was room for improvement in certain areas. The reductions equate to an average 15% fall in certain charges across the workplace group pensions business, and any exit charges have been removed. This means that many members will pay lower charges later this year. After recommendations from the IGC, Prudential agreed to reduce to remove member charges on all unit-linked and with-profits business. This includes removing any additional charges associated with initial/capital unit...