Part 1: Collective Money Purchase Benefits Triggering events and continuity options Section 45: Prohibition on increasing charges etc during triggering event period
This section places restrictions on trustees increasing or imposing administration charges when a scheme is in a triggering event period (section 32). The trustees of a collective money purchase scheme must not impose administration charges on or in respect of members above the level set out in the implementation strategy (subsection (1)(a)) and must not impose new administration charges on or in respect of members (subsection (1)(b)). Further, trustees must not impose administration charges on or in respect of members in consequence of a member leaving or deciding to leave the scheme during the triggering event period (subsection (1)(c)).
	Subsection (2) provides for corresponding prohibitions on the trustees of a collective money purchase scheme or a Master Trust pension scheme which receives a transfer of the value of accrued rights to benefits from a collective money purchase scheme which is pursuing continuity option 1, having been proposed by the trustees or employer of that transferring scheme as a scheme to which those rights should be transferred. The trustees of such a receiving scheme must not increase administration charges above the level set out in the document the scheme is to provide to the Regulator by regulations under section 36(7)(e) and they must not impose any new charges on members, to meet costs set out under subsection (4). The costs set out under subsection (4) are the costs for which the receiving scheme is liable which were incurred by the transferring scheme or which relate directly to the transfer of the value of accrued rights to benefits under the transferring scheme.
	Subsection (3)(a) allows regulations to omit administration charges specified in regulations from the prohibition imposed by subsection (1) or (2), whilst subsection (3)(b) allows regulations to set how the levels of administration charges are to be calculated for the purposes of this section.
	Subsection (5) provides that this section overrides a provision of a collective money purchase scheme, a Master Trust scheme and any contracts that such a scheme may have entered into with persons providing services in relation to the scheme, where there is a conflict with the requirements of this section.
	By regulations under subsection (6) the Secretary of State may apply requirements of this section to other schemes which are able to act as a ‘receiving scheme’ by regulations under section 36 (2)(b). A civil penalty under section 10 of the Pensions Act 1995 applies to a trustee who fails to comply with this section (subsection (7)).
	Subsection (8) defines "receiving scheme" to mean a pension scheme that receives a transfer of the value of accrued rights from a transferring scheme to benefits under the receiving scheme during a triggering event period and which was a scheme that the trustees or employer of the transferring scheme proposed should receive the transfer. It also defines "transferring scheme" to mean a collective money purchase scheme in respect of which the trustees are pursuing continuity option 1 (see section 36) as a result of a triggering event.