Consultation outcome

Occupational pensions: capping early exit charges and prohibiting existing member-borne commission charges

• From: Department for Work and Pensions
• Published: 5 April 2017
• Last updated: 21 July 2017 — See all updates

This was published under the 2016 to 2019 May Conservative government

Applies to England, Scotland and Wales

This consultation has concluded

Read the full outcome

Government response to the consultation on The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017

PDF, 137 KB, 13 pages

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Detail of outcome

We published the government response to this consultation on 3 July 2017.

We published statutory guidance on capping early exit charges for trustees and managers of occupational pension schemes, and service providers on 12 July 2017.

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Original consultation

Summary

A consultation on draft regulations: The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017.

This consultation ran from
9am on 5 April 2017 to 11:45pm on 31 May 2017

Consultation description

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

Earlier consultation

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.

Documents

The Occupational Pension Schemes (Charges and Governance) (Amendment) Regulations 2017 (draft regulations): Capping early exit charges and prohibiting existing member-borne commission charges

PDF, 287 KB, 20 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email accessible.formats@dwp.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 5 April 2017
Last updated 21 July 2017 + show all updates

1. 21 July 2017

   Added a link to statutory guidance on capping early exit charges for trustees and managers of occupational pension schemes, and service providers.

2. 3 July 2017

   Published the government response to the consultation.

3. 5 April 2017

   First published.