It’s not often that I post so many links to articles in the wider media in one day, but this article, regarding the proposed response/solution (known as Consultancy Charging) to the removal of current commission structures (which takes place on the 1st January 2013) has just crossed my radar, and supports what I was saying about the Retail Distribution Review (RDR) at last Friday’s event.
This may seem like a pensions industry problem, but of course employer’s often rely on commission to fund some of their services. This therefore does have real implications for UK employers, particularly as the need for assistance and advice around Auto Enrolment comes ever closer. The full article can be viewed here:
As mentioned in the article, the big question now is probably no longer:
“Will Consultancy Charging work?”
Instead it’s now more along the lines of:
“What will happen to all those schemes that were set up on a Consultancy Charging (or similar) basis prior to the latest FSA position taking shape?”
As if the pensions landscape was not confusing enough already…
Best regards
Steve
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