Saga comments on Treasury consultation looking at capping pension exit charges
Paul Green, director of communications at Saga, commented:
"George Osborne was right to trust people with their own money but many pension firms have seen this as an opportunity to take advantage of savers and make some quick money. We are pleased that the Government is taking action and thinking about abolishing exit fees or introducing a cap on them to stop pension companies from ripping off savers. People haven't saved all their lives to have it snatched away by pension firms just as they are given the freedom to do what they want with their own money."