Pension Schemes Act 2017
Pension Schemes Act 2017
Independent editorial summary — not the official statute text. Read the official version on legislation.gov.uk.
Overview of the Act
Reproduced verbatim from the Explanatory Notes published with the Act on legislation.gov.uk (Crown Copyright, Open Government Licence v3.0). Explanatory Notes are prepared by the responsible government department and are not part of the Act.
The Act’s focus is on protecting savers and maintaining confidence in pension savings.
The introduction of automatic enrolment into workplace pension schemes under the Pensions Act 2008 made it compulsory for employers to automatically enroll eligible workers into a qualifying workplace pension scheme.
The pensions market has responded to this and the Master Trust market has developed. This Act aims to ensure that those saving into a Master Trust, a form of multi-employer occupational pension scheme which employers are able to select for their workers rather than needing to set up their own pension scheme, are protected.
The Act also amends existing legislation to support the Government’s intention to cap early exit charges and ban member-borne commission charges in certain occupational pension schemes.
Type: UK Public General Act
Year and chapter: 2017 c. 17
Royal Assent: 2017-04-27
Last ingested: 2026-06-12 from legislation.gov.uk. Acts commence section by section — check the official text for commencement orders.