Consultation on governance and charges in occupational pension schemes

20 October 2014

The Department for Work and Pensions (DWP) have launched a consultation on draft regulations about governance and charges in occupational pension schemes.

DWP says that the paper builds on the March 2014 Command Paper Better workplace pensions: Further measures for savers, by publishing the Government’s response to an earlier consultation on minimum governance standards and transparency in occupational pension schemes and provides more detail on measures to protect savers, in qualifying workplace pension schemes, from high charges.

The paper also launches a consultation on draft regulations on governance and charges in occupational pension schemes, which closes on 14 November 2014. Once stakeholder comments and views have been considered, the Government intends to lay regulations in Parliament for its approval early in the New Year. DWP continue to work closely with the Financial Conduct Authority who recently concluded a consultation on rules to introduce Independent Governance Committees from April 2015 and will be shortly consulting on equivalent rules relating to charges in workplace personal pension schemes.