Insight
Title:
FCA has been tasked with setting a cap on pension exit fees
Description:
From: ILAG Insights 19 January 2016
FCA has been tasked with setting a cap on pension exit fees. FCA’s data shows that of 670,000 accessing pension freedoms who paid an exit fee 358,000 faced charges between 0-2%; 165,000 faced charges between 2-5%; 81,000 faced charges between 5-10%; and 66,000 faced charges above 10%.