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Aviva latest provider to cap exit fees

Aviva, the UK’s biggest pension provider, is to introduce a 5 per cent cap on exit fees for all individual and workplace pension customers, Money Marketing can reveal. The move follows Standard Life, who have already introduced a 5 per cent cap, and Prudential, who plan to bring a cap in at “below 5 per […]

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Govt refuses to intervene as High Court ruling sparks pension liberation concerns

Pensions minister Baroness Ros Altmann says the Government will not legislate to stop pension scams as providers face renewed pressure to transfer savings to suspected liberation schemes following a controversial High Court ruling. Last month the High Court overturned a Pensions Ombudsman decision that sided with Royal London over a suspicious £8,000 transfer to a […]

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Brokers at just 3 major networks can call themselves ‘independent’ post-MCD

Swathes of brokers will be unable to describe themselves as ‘independent’ from next month as major networks look to stop their intermediaries from advising on second charge loans. Research by Money Marketing sister-title Mortgage Strategy shows just three major networks will allow their brokers to advise on second charge loans and thereby maintain their independent […]

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