Prudential has introduced an "early exit penalty" for new local government pension scheme members making short-term additional voluntary contributions to cover lost fund management charges.
The firm will introduce the penalty from August this year for members who withdraw their funds within five years of making a contribution. It will apply to LGPS funds with in-house AVC arrangeme...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
