Managing Your Money 

Profit from the pension exit fee cap

Profit from the pension exit fee cap

Investors locked into old-style pensions with hefty exit fees will soon be able to remove money early and, at most, only pay a 1 per cent charge. The Financial Conduct Authority (FCA) is capping exit fees on personal pensions at 1 per cent from 31 March to try to help those aged over 55 to move out of old schemes, which often have high charges and little or no flexibility.

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