Labour lords move to force pension charge cap by May 2015

The amendment comes after pensions minister Steve Webb revealed that charge cap, intended for April 2014, would be delayed by a year. This has prompted speculation from the industry and the opposition that the reform will be dropped entirely as focus intensifies next year on the general election in May. Lord Desmond Browne, Lord Adair Turner, author of the wide-ranging 2005 Turner Review, and Baroness Jeanie Drake proposed to insert a requirement on Secretary of State for Work and Pensions Iain Duncan Smith to "lay before Parliament regulations to restrict such charges as soon as reas...