Sentence examples for exit charge from inspiring English sources

Henderson unit funds are now being converted into open ended investment companies (OEICs), with a less onerous opening commission of 3%, but an increased annual levy of 2% and a new exit charge diminishing over six years.

If interest rates happen to be up, there could be an extra exit charge.

Maximum sales charge shows the highest commission collected by the fund's distributor, including any back-end (exit) charge.

Nutmeg chief executive Nick Hungerford said: "Early exit charges are often unnecessary, and a sly way to make money from customers".

The new duty, introduced through legislation, will form part of the response to the government's Pension Transfers and Exit Charges consultation.

* * * The Financial Conduct Authority must ensure firms don't rip off consumers with extortionate exit charges on those taking advantage of pension freedoms, the Chancellor said yesterday.

However, the reality is less dramatic, with the FCA now confirming the review will not seek to remove exit charges on the vast majority of legacy products.

On Thursday, a cap on excessive early exit charges for those looking to cash in their pension savings will be set out in a consultation paper.

"The Government isn't prepared to see people either ripped off or blocked from accessing their own money by excessive charges," George Osborne said, after setting out proposals to force the City Watchdog to ensure that early exit charges were capped.

At six of the 11 insurers, exit charges applied in some cases and the FCA said the companies might have failed to inform customers of these charges when the policy was exited or converted.

Meanwhile the government will shortly publish its formal response to the Pension Transfers and Exit Charges consultation, which also looks at ways of making the process for transferring pensions from one scheme to another quicker and smoother.