Nucleus Financial Platforms has announced the removal of exit fees for customers of Curtis Banks SIPP products.
The change will apply to transfers out to UK based pension schemes and annuity purchases.
It follows the removal of the remaining exit fees on James Hay products last year, as well as a further reduction in the price of Nucleus Wrap.
Nucleus’ commitment to using its scale to invest in price has saved the group’s customers over £5m in the last two years, with a further £5m expected to be saved in 2024 through the combined price reductions.
Mike Regan, Nucleus Chief Commercial Officer said: “I’m pleased that following our acquisition of Curtis Banks last year, we’re now removing exit fees. We don’t believe any customer should face unreasonable barriers to exit if they wish to leave, for whatever reason.
“Looking ahead to 2024 we’re excited about the prospect of continuing to invest in our products, service and price, enabling us to deliver great financial outcomes for our customers and ultimately helping make their retirement more rewarding.”
The exit charges this applies to are as follows:
| · Final payment and closure of pension charge· Transfer out charge· Annuity purchase charge· Forwarding monies post pension closure charge |
