Pension charge cap delayed until April 2015

Speaking at the Confederation of British Industry Pensions Conference, Webb said the implementation of the cap, originally scheduled for April 2014, has been pushed back to avoid disrupting AE. Reforms to improve the quality of defined contribution (DC) schemes have also been delayed until April 2015. Webb said the government will not lose momentum for pension reform ahead of May 2015's general election. He said the delay will cost members, at most, 8p per week, but that it is worth it to get the reforms right. Pension provider Aegon backed the delay. The firm had previously warned...