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UK targets trust-based pension schemes for improvement

UK targets trust-based pension schemes for improvement

Trust-based schemes are being called on to improve their transparency and accountability following HM Treasury's latest consultation on pension transfers and early exit charges. The Financial Conduct Authority will apply a charge cap to early exit charges in relation to contract-based schemes – intended to be in place by March 2017, and The Pensions Regulator (TPR) will work alongside the FCA to design the level of the cap, which will be extended to cover trust-based schemes. Please link to International Adviser to read the full article by Sam Shaw.

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