Monday 4 November 2013

Stephen Metcalfe MP welcomes plans to cap pension charges

Stephen Metcalfe, local MP for South Basildon and Thurrock, has today welcomed plans to radically reform pension charges. The changes are designed to help people who have been saving for their retirement.

Conservative MP and Financial Secretary to the Treasury Sajid Javid MP announced that the Government will:

  • Introduce a cap on pension charges to save hardworking people thousands of pounds.
  • Make sure employers and savers are better-informed about the pensions available, so they can make the choice that is best for them.

The Government will now consult on the best way of reducing these charges.

Mr Metcalfe commented: “This is great news for hardworking people in South Basildon and East Thurrock who are, or who have been saving for retirement. It will help ensure they get the value for money from their pension that they deserve.” 

“Conservatives have already taken action to cut fuel duty and income tax and we are changing the law to force energy companies to put customers on the lowest tariff. This announcement is another step Conservatives in Government are taking to help people up and down the country and I look forward to seeing the reforms implemented.”