FCA urged to ban 'unjustified' early exit charges for all savers

clock • 2 min read

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....

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

TPR publishes Q4 compliance and enforcement bulletin

TPR publishes Q4 compliance and enforcement bulletin

Regulator reports increase in usage of AE powers but a fall in frontline powers

Jonathan Stapleton
clock 28 March 2024 • 3 min read
TPR's General Code comes into force

TPR's General Code comes into force

WTW research shows average scheme is 87% compliant with the code

Jasmine Urquhart
clock 27 March 2024 • 4 min read
UPDATED: DWP publishes staging dates for pensions dashboards connection

UPDATED: DWP publishes staging dates for pensions dashboards connection

Largest schemes have until 30 April next year to connect to the dashboards infrastructure

Jonathan Stapleton
clock 25 March 2024 • 6 min read
Trustpilot