FCA urged to ban 'unjustified' pension exit charges for all savers
Rules due to come into force next year
The regulator should completely ban all pension early exit charges to prevent any saver being penalised for taking advantage of the freedom and choice reforms, Hargreaves Lansdown has said.
The firm said even the 1% cap due to be put in place for leaving existing schemes should be brought down to nothing. It said exit charges were not unjustified following the pension freedom reforms...
More on Pensions
Pension Schemes Bill nears finish line with House of Lords approval
Royal assent soon
Pension transfer values end volatile year 8% up; scam 'red flags' at record high
‘Substantial volatility’
Adrian Boulding: Go against the pack and consider an annuity
Only one in ten opt for an annuity
DWP bans flat-fee AE charges on pots worth under £100
The Department for Work and Pensions (DWP) will ban the charging of flat fees on auto-enrolment (AE) pots valued at or below £100 and launch work on how to standardise cost and charges reporting.
More news
UK borrows £34bn in December as public sector debt set to increase through 2021
Third highest monthly figure since 1993
Advisers to be levied £240m again as FSCS announces £1bn overall levy
'Cannot normalise this level of loss'
Daniel Baade: The rise of debt financing in IFA M&A
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
Quilter supports 285 young carers in the UK by raising £10,600
Supported over Christmas
Treasury Taskforce to address FSCS levy concerns and work with FCA
Plus online scams
