Scottish Widows will pay workplace pension trail until 2016

In an update to advisers, it also said it would remove initial commission in November this year and implement the 0.75% price cap for all employees in qualifying schemes by April next year. This will bring all default funds in line with the government's pension charge cap. By April 2016 the firm said it would remove ongoing commission and significant reduction in the average lifetime charge in AMD schemes by capping all charges at the active rate + 5bps (subject to a 35bps floor). Treating customers fairly David Holton, Director for Corporate Propositions at Scottish Widows said: "...