Consultation to include a cap on excessive early exit charges affecting people seeking to take advantage of new pension freedoms

The Treasury is to outline plans to tackle rogue pension companies that have been applying punitive charges to over-55s trying to take advantage of the government’s new pension freedoms.

On Thursday, a cap on excessive early exit charges for those looking to cash in their pension savings will be set out in a consultation paper. The Treasury will also look at how pensioners and industry experts can remove other barriers that may be stopping people enjoying the benefits of increased flexibility over their pension pot.

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Source: The Guardian Circular Economy RSS