When will the companies remove the charge on policy transfers and surrenders again?

The charge on policy transfers and surrenders will remain in force for as long as the market value of the assets in the interest rate group to which the scheme belongs (shares, bonds, etc.) is lower than the value of the provisions to cover the customers’ pensions. The major fluctuations seen in share and bond prices in recent years have made it difficult to assess for how long each company has to maintain the charge on policy transfers and surrenders.