Beware of ‘junk fees’ in the capital market

The US Department of Labour has proposed a rule to crackdown on “junk fees” in the US retirement accounts like the 401(k) plans, which are similar to our EPF and individual retirement accounts.— AFP

FOR the longest time, we have heard about unit trust investment, investment-linked insurance plans and other retirement schemes being pushed by sales agents and consultants.

Most of the products are deemed to be capital market products, which are said to help people achieve their financial freedom, and they form part of their retirement planning.