Consultancy charging ban: why take advisers out of the process?

The debate around the future of consultancy charging on automatic enrolment pension schemes was put to rest last week when the government announced its intention to ban the method of payment to advisers. Over the past six months, the government said it had conducted a thorough review of consultancy charges, and concluded that existing measures to prevent advisers deducting high charges from members’ pension pots were “inadequate”. It also found that consultancy charges can have a disproportionately negative impact on people who move jobs regularly. The ban will apply both to occupa...