Queen's Speech: Govt to cap exit charges and tackle master trust security

Supporting documentation for the government's upcoming legislative programme showed it plans to enforce strict new criteria for master trusts to have to demonstrate before schemes can enter the market and accept funds. It also plans to give the workplace and master trust regulator, The Pensions Regulator, greater powers to authorise and supervise these schemes and take action when necessary. Furthermore, it will legislate to cap early exit fees charged by trust-based occupational pension schemes, creating a system that enables consumers to access pension freedom without unreasonable b...