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

Court adjourns proceedings against former sports centre director

Court adjourns proceedings against former sports centre director

TPR prosecution against former director of 1066 Target Sports adjourned for ten weeks

Martin Richmond
clock 16 April 2024 • 1 min read
Rory Murphy: The case for a permanent pensions commission

Rory Murphy: The case for a permanent pensions commission

Setting up an ongoing vehicle for reviewing the retirement savings landscape

Rory Murphy
clock 15 April 2024 • 4 min read
LTA abolition: What do schemes need to know?

LTA abolition: What do schemes need to know?

Communication, member protections and transfers just some of the aspects to prioritise

Jasmine Urquhart
clock 15 April 2024 • 6 min read
Trustpilot