Policy background Administration Charges (cap on early exit charges and ban on member-borne commission charges)
The Act amends existing legislation to allow regulations to be made which override terms of certain contracts which conflict with the regulations. This seeks to support the government’s intention to introduce a cap on early exit charges in certain occupational pension schemes.
	This change will also support the commitment the government made in March 2014 to ban member-borne commission charges arising under existing arrangements in certain occupational pension schemes. Member-borne commission charges under new arrangements were banned from April 2016.