Aviva halts initial commission on workplace pension schemes

It said it would continue paying trail commission until its ban in April 2016 "to allow enough transition time to lift the strain on advisers moving to a fee-based structure". It has also pledged to implement the Department for Work and Pensions (DWP) charge cap of 0.75% ahead of schedule and remove of active member discounts (AMD). Both moves will be in place by the end of the year. Aviva said it would also reduce the charges for non-AMD schemes where ongoing commission will stop in 2016. Aviva managing director of workplace savings Brian Gabriel, said: "Aviva is committed to supp...