The government has woken up to the anger being felt by members of pension schemes when confronted with what they regard as unfair penalties when accessing their pension funds under the new pension freedom legislation.
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A Pension Charges Cap
The government is going to consult on this issue and, and all have written on this topic. The has also been commenting in this issue. This topic of a pension charges cap is one I am sure we will be returning to.
Mr Osborne is quoted as saying “We are investigating how to remove barriers and we are considering now a cap on charges. I’m asking the Financial Conduct Authority to investigate. People who have worked hard and saved hard deserve a better deal.”