Govt to cap deferred pension member charges

The amendment to the Pensions Bill, part of a clutch announced today, reveals the government's intention to extend an existing reserve power to cap charges for these deferred members. Webb said this would "enable government to protect all scheme members from high charges, not just active members". The change is a crack down on active member discounts, employed by major pension providers such as Standard Life and Aviva. TUC general secretary Brendan Barber said unions welcome the move. "This shows ministers have heeded the warnings of unions and consumer groups that this is a sca...