LONDON Jan 23 A planned cap on the fee charged
by pension fund providers to British savers will be delayed a
year until April 2015, pensions minister Steve Webb told a
conference on Thursday.
Webb told a conference organised by the Confederation of
British Industry that the delay would help companies focus on
completing a programme of auto-enrollment of workers at 30,000
companies into pensions during 2014.
The cap was due to come into force in early 2014, after
being announced in October last year, but Webb said the
government had decided the timeframe involved was too short.
"Changing the rules at 12 weeks notice... didn't quite stack
up. That's why the changes that we will make will be in April
2015," he said.