Parliament's Work and Pensions Committee has launched an inquiry into contingent charging on defined benefit (DB) pension transfer advice.
The inquiry has asked respondents whether they believe contingent charging increases the likelihood of unsuitable advice, as well as what the impact of a ban could be, and how any negative effects might be minimised. The committee is also exploring whether any alternative solutions could remove conflicts of interest but also avoid any possible negative impacts of an outright ban on the charging practice. Those who wish to have their say have until 31 January to respond. In a previous inquiry into pension freedom and choice, the Work and Pensions Committee found advisers could be incen...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes