Webb signals shift away from AMD ban

Webb had previously vowed to tackle pension schemes' practice of charging members who have left the scheme more to manage their pot. In October, the government added the power to cap these charges into the Pensions Bill. However, Webb said he would prefer to eradicate AMDs by creating a system in which pension pots transferred automatically into employees' new schemes when they move jobs. This way, he said, there would be no deferred members for pension schemes to charge premiums on. "Legislation on deferred member charges is an option but we would prefer people to know where th...