Property News · November 15, 2016

Pension exit fees capped at 1%


Over-55s wishing to cash in their workplace or personal pension pots early will pay a maximum of 1% in charges from 2017Some older workers should see a big fall in the fees they pay to access their company pension cash after the government announced plans to cap charges.Ministers are proposing that early exit charges for money purchase workplace pension schemes be capped at 1%. That could make a huge difference to some workers: it has emerged that some employer schemes impose a maximum exit charge of up to 24%, which would take a huge chunk out of an individual’s pot. Continue reading…

Source : theguardian.com
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