WIREDGOV

The CBI responded to a Department of Work and Pensions’ announcement on changes to the pension system which include a cap on pension fees from April next year. 

Neil Carberry, CBI director for employment and skills, said:

“We do not think capping fees at this level is wise, especially as schemes will now have to provide expensive advice to every member following last week’s Budget.

“It’s also disappointing to see that the Government has decided to ban Active Member Discounts, which means long-serving staff will no longer be rewarded.”