WELLINGTON, New Zealand (AP) — Smokers in New Zealand will pay $20 for a pack of cigarettes under the government's budget plan released Thursday. Polluting industries will also get hit with higher taxes.
Charges on Britons cashing in their pension early will be capped at 1 percent of the pot's value from March 2017, the Financial Conduct Authority proposed on Thursday. The FCA also announced that insurers will not be able to apply any early exit charge for personal pension contracts entered into after the proposed new rules come into force. Britain has introduced so-called "pension freedom" reforms in a bid to give people aged 55 years or over more choice in providing for their retirement, but high exit fees have put off some people.