Pension transfers early exit charges

The government is consulting until 21 October 2015 on three main options for capping excessive early exit charges for pension withdrawals and transfers under the new flexible arrangements, which include: (1) capping all early exit fees; (2) flexible capping; or (3) a voluntary approach by the industry. The document also seeks views on barriers in the pension transfer process and more clarity around financial advice. See www.bit.ly/1eCqOkV.