Exit charges capped under FCA proposal
Posted by mostafa on 7 June, 2016
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This item was filled under Tax
Exit penalties for savers wishing to exercise the pension freedoms should be capped at 1% of the value of their fund, the Financial Conduct Authority (FCA) has announced in a consultation document . The cap would apply to personal, stakeholder and self-invested personal pensions. It would apply to existing contracts if an exit penalty is applied, but only to people aged 55 …