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Written question asked by Gregory Campbell (Democratic Unionist Party) on Wednesday, 17 June 2015, in the House of Commons. It was due for an answer on Monday, 22 June 2015 (named day). It was answered by Harriett Baldwin (Conservative) on Monday, 22 June 2015 on behalf of the Treasury.


Pensions

Question

To ask Mr Chancellor of the Exchequer, if he will introduce a cap on pension company charges for people seeking to switch, cash-in or otherwise vary their pension policy.

Answer

The Government will launch a consultation next month on options to address any excessive early exit penalties. This will include, if there is evidence of such penalties, the option of imposing a legislative cap on these charges for those aged 55 or over.


Secondary information

Type
Written question
Reference
2959
Session
2015-16
Subjects
Pensions Lump sum payments
Link
View this Written question on www.parliament.uk