Webb: Consultancy charging undermining AE

Speaking at a Pensions Network event Steve Webb said the practice risked undermining auto-enrolment and needed to be stopped. "All it takes is for one or two schemes to have outrageous charges for the whole edifice of auto-enrolment to start to crumble," he said. "We don't need huge chunks being taken out of early contributions. This practice was doing damage and we had to stop it." The minister also urged the industry to "stop whingeing about the issue of small pots" and to concentrate on making the process work. "Small fragmented pots don't bother us and pot follows member is hap...