The transition to the proposed Life Insurance Framework is now expected to be delayed to January 2018.

Minister for Revenue and Financial Services Kelly O’Dwyer is expected to announce the delay at the Association of Financial Advisers conference, which starts on Wednesday.

A speech she will give at the event has been released by her office. In it she will say the legislation to be introduced into Parliament this month “will transition all advisers to the new remuneration structure on January 1 2018, regardless of their employment arrangements”.

“This change will ensure a level playing field for all advisers.”

Meanwhile, the Association of Independently Owned Financial Professionals has written to senators urging them to refrain from voting on the framework until a new parliamentary inquiry is completed.

Executive Director Peter Johnston argues the Parliamentary Joint Committee on Corporations and Financial Services probe may “reveal critical information” and “shine a different light” on the reforms.