Scottish Life backs down on consultancy charging

The provider has previously said it would continue to use consultancy charging ahead of its scheduled ban by the government. Its position was criticised by pensions minister Steve Webb at an industry event on Wednesday. Today, Scottish Life managing director Ewan Smith said: "We have been working with advisers and employers for many months as the market anticipates the challenges that auto enrolment will bring. "Many employers are keen to ensure that members benefit as early as possible and are putting schemes in place well ahead of the staging date that has been allocated to them....