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Lawmakers Push Pension Transfer Fee Ban Amid Scandal

Law360, London (February 15, 2018, 1:38 PM GMT) -- A U.K. parliamentary committee on Thursday called on British regulators to help members of the troubled British Steel Pension Scheme and ban transfer fees, warning that a misselling scandal is erupting on transfers out of the plan.

The House of Commons Work and Pensions Committee urged the Financial Conduct Authority and The Pensions Regulator to ban the fees that financial advisers charge for pension transfers. Politicians on the committee told the watchdogs to ensure that members of the scheme are made aware of their options....
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