Scottish Life has backed down on its position on the use of consultancy charging for automatic enrolment pension schemes.
The provider has previously said it would continue to use consultancy charging ahead of its scheduled ban by the government.
Its position was criticised by pensions minister Steve Webb at an industry event on Wednesday.
Today, Scottish Life managing director Ewan Smith said: "We have been working with advisers and employers for many months as the market anticipates the challenges that auto enrolment will bring.
"Many employers are keen to ensure that members benefit as early as possible and are putting schemes in place well ahead of the staging date that has been allocated to them.
"For some of these schemes advisers will have negotiated their remuneration on a consultancy charging basis.
"We will continue to manage these through this transitional period, and once complete we will not accept consultancy charging agreements as the industry moves to a fee-based model."
He added: "We have had close dialogue with the DWP over the last few weeks regarding the policy intention and will continue to do so.
"Scottish Life remains committed to supporting advisers and their clients with the highest standard of auto-enrolment ready products and services in the market."
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