PART 5Further provision relating to pension schemes
Administration charges
127Administration charges
1
In section 1 of the Welfare Reform and Pensions Act 1999 (meaning of “stakeholder pension scheme”), in subsection (5) (fourth condition: charge cap)—
a
for “result in” substitute “
constitute
”
;
b
after “members” insert “
or the making of transfer payments with a view to acquiring rights or entitlements to pension benefits under different pension schemes
”
.
I12
In Schedule 18 to the Pensions Act 2014 (power to restrict charges or impose requirements in relation to schemes), in paragraph 1(5), in the definition of “administration charge”—
a
for “result in” substitute “
constitute
”
;
b
after “members” insert “
or the making of transfer payments with a view to acquiring rights or entitlements to pension benefits under different pension schemes
”
.
I23
In section 113 of the Pension Schemes Act 1993 (disclosure of information about schemes to members etc)—
a
in subsection (6)(b), after “the” insert “
other
”
;
b
in subsection (7), after “or” insert “
other
”
.
I24
In section 137FA of the Financial Services and Markets Act 2000 (FCA general rules: disclosure of information about pension scheme transaction costs etc)—
a
in subsection (3)(b), after “the” insert “
other
”
;
b
in subsection (4), after “or” insert “
other
”
;
c
in subsection (7), after “costs or” insert “
other
”
.