Pensions (Amendment) (Transparency in Charges) Bill 2021

Public bill · Private Member · Introduced

It would require pension scheme trustees to give members a clear yearly statement showing what charges are being taken, how much they amount to in cash and as a share of contributions and savings, and how those charges reduce the member’s eventual pension. Members would get this information when they join, every year, on request, and after any increase in charges, with new entrants protected from being bound by the scheme’s rules for 15 days after first receiving it. It also asks the Pensions Authority and Pensions Council to monitor and report on pension charges, so people can better understand and compare the cost of saving for retirement.

Formal long title

Bill entitled an Act to provide for greater transparency in relation to charges that may be imposed in the administration of pension schemes, for that purpose to amend the Pensions Act 1990, and to provide for related matters.

Last updated 2 May 2025