CBI responds to pensions cap announcement
28 Mar 2014 01:09 PM
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.”