Chloe Smith MP welcomes plans to cap pensions charges

Conservatives today announced radical reforms to pension charges designed to help people who have worked hard and done the right thing by saving for their retirement.

 

Conservative MP and Financial Secretary to the Treasury Sajid Javid MP announced that the Government will:

 

  • Introduce a cap on pension charges to save hardworking people thousands of pounds.

 

  • Make sure employers and savers are better-informed about the pensions available, so they can make the choice that is best for them.

 

The Government will now consult on the best way of reducing these charges.

 

Chloe Smith commented:

 

“This is great news for hardworking people in Norwich and Broadland who are doing the right thing and saving for retirement. It will help ensure they get the value for money from their pension that they deserve.

 

“Conservatives have already taken action to cut fuel duty and income tax and we are changing the law to force energy companies to put customers on the lowest tariff.

 

“This announcement is another step Conservatives in Government are taking to help people who want to work hard and get on in life.”