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FCA to cap pension exit fees at 1%

FCA to cap pension exit fees at 1%

The UK's Financial Conduct Authority looks set to cap exit charges for existing contract-based personal pensions, including workplace personal pensions, at 1% of the value of a member's pot. Firms will not be able to apply any exit charge for personal pension contracts entered into after the proposed new rules come into force. Please link to International Adviser to read the full article by Kirsten Hastings.

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