The Work and Pensions Committee has launched an inquiry into the practice of contingent charging for DB pensions transfer advice, which is where the adviser is only paid, or is paid much more, if the person decides to take the transfer. The WPC is seeking to gather evidence on whether contingent charging increases the likelihood of bad advice. The inquiry will assess the impact of a possible ban and will also explore alternative solutions that could be employed to remove conflicts of interest. The inquiry follows a statement from the Financial Conduct Authority in October 2018, which concluded that contingent charging is not the main driver of poor outcomes for those transferring but said that further analysis was required. The WPC will seek to provide an in-depth analysis, with submissions open until 31 January 2019.