DWP could ban member-borne consultancy charges

In an evidence session with the work and pensions committee, Webb addressed issues around the transparency of consultancy charges levied on employees in a workplace scheme and said an outright ban on consultancy cost borne by members is an option. "Most big firms staged in October and auto-enrolled in January, and the retail distribution review only started in January, so we are learning right now how it is going to work," Webb said. "Charges can't be justified if the member does not benefit. Charges won't go away but they need to be transparent." Webb said his demand to the Associ...