Old Mutual Wealth (OMW) is reducing exit charges on its legacy pension contracts, a month after the regulator announced it was investigating charges levied on clients by the firm and a number of its competitors.
OMW will reduce the charges paid by some 15% of its Heritage pension customers, the former Skandia life book, and cap them at 5% for all other customers aged over 55. The firm will also remove a policy...
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