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Pension fee cap plan considered by government

A proposed cap on management fees charged by pension providers could mean that savers lose out on hundreds of thousands of pounds from their pensions, according to proposals being set out by the government.

The Treasury is consulting on its plans to cap fees at between 0.75% and 1%, which it says could save people tens of thousands of pounds.

Some older schemes have been found to charge up to 2.3% a year in management fees.

Emma Simpson reports.

  • 30 Oct 2013
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