Aegon: Killing AMDs will hurt savers

AMDs are a practice where the pension scheme charges members of company pensions more to manage their pot if they have left the company than current employees. The government has announced it will cap deferred member charges as part of its Pensions Bill reforms. However, Steven Cameron, head of regulatory strategy at Aegon, said capping AMDs will damage savings. "There are many costs within group schemes which do not vary with size of fund and which apply whether a member is active or deferred," said Cameron. "Is it really fair to expect those who stay within the scheme to subs...