Pension charge cap plans shelved for 'at least a year'

The cap, one of pension minister Steve Webb's key policies, would have seen all auto-enrolment schemes operate on a charging structure of between 0.75% and 1%. The Department for Work and Pensions (DWP) put a range of options to facilitate the cap out to consultation in October last year. However, nothing had been officially decided. Webb also previously pledged to "move quickly" to introduce the cap. In October, he told Parliament he wanted to deal with the "scourge of excessive charges" once and for all. However, his plans have been put on hold, according to the FT. Insiders t...