Occupational pensions: capping early exit charges and prohibiting existing member-borne commission charges
- Department for Work and Pensions
- First published:
- 5 April 2017
- Applies to:
- England, Scotland, and Wales
This consultation closes at
A consultation on draft regulations: The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017.
The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (draft regulations): Capping early exit charges and prohibiting existing member-borne commission charges
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This consultation seeks views on the draft Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017. The regulations would introduce restrictions on early exit charges for members of occupational pension schemes who are eligible to access the pension freedoms.
The regulations also restrict charges being imposed on members of certain occupational pension schemes to recoup the cost of commission payments made to advisers in relation to contracts entered into before 6 April 2016.
This consultation is aimed at:
- pension industry bodies and professionals
- trustees or scheme mangers
- pension scheme members and beneficiaries
- employers and representative organisations
- any other interested parties
In May 2016 we published a consultation on capping early exit charges for members of occupational pension schemes. We added the government response in November 2016.
Ways to respond
Department for Work and Pensions
1st Floor, Caxton House
Published: 5 April 2017