Flat fees to be axed on pensions worth £100 or less to help boost smaller retirement pots
The move will help people who have had a lot of jobs or short-term contracts.
10:42, 25 MAY 2021
The changes will stop smaller pension pots dwindling away to nothing (Image: Getty Images)
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| UPDATED: 11:03, Wed, Jan 13, 2021
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Ministers are to unveil plans for banning annual flat fees on all auto-enrolment pensions pots worth £100 or less. The measure is designed to help employees who frequently change jobs and have their pensions divided among a string of different workplace pension schemes as a result. Many see their savings gradually eroded over the years as a result of annual, flat fees on relatively small amounts of cash.