Flat fees on work pension pots worth less than £100 are to be abolished to prevent them dwindling to nothing over time.
The Government move is aimed at avoiding the disastrous prospect of people who have moved jobs and acquired many small pots during their working lives discovering they are empty when they reach retirement, having been eroded by charges.
The reputation of the so far hugely successful auto enrolment initiative to get people saving for old age could suffer a huge hit if workers belatedly found their entire pots had been swallowed by fees. Small pot problem: Flat fee ban […]
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