Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what progress he has made on analysis of responses to the pension transfers and early exit charges consultation, launched by his Department in July 2015; and when he plans to publish the response to the consultation.

On Tuesday 19 January, the Chancellor announced his intention to legislate to place a duty on the Financial Conduct Authority (FCA) to cap excessive early exit charges for those eligible to access the pension freedoms. This new duty will form part of the response to the government’s Pension Transfers and Early Exit Charges consultation, and will help people take full advantage of the pension freedoms. The government will be publishing its full response to this consultation shortly.