Old Mutual Wealth to cap exit fees at 5%

Old Mutual Wealth will introduce the 5% cap from 1 July 2016, and this will mean the average exit fee across all its pensions will fall by 2%, it claims. The firm said there are approximately 3,700 customers over 55 in pensions that have exit fees.


Sweden’s AP2 pension fund takes assets in-house

The overhaul follows the Swedish government’s decision in December to postpone a planned reform of the pension system, which would have resulted in the closure of two state pension funds and a review of the investment limits for the remaining funds.