Part 2Administration charges
41Power to override contract terms
(1)
Paragraph 6 of Schedule 18 to the Pensions Act 2014 (power to restrict charges or impose requirements in relation to schemes: overriding provision) is amended as follows.
(2)
After sub-paragraph (1) insert—
“(1A)
The Secretary of State may by regulations provide that specified provisions override any term of a relevant contract to the extent that it conflicts with them.”
(3)
In sub-paragraph (2), at the end insert “
or (1A)
”
.
(4)
After sub-paragraph (2) insert—
“(3)
“Relevant contract” means a contract between the trustees or managers of a relevant scheme and a person providing services in relation to the scheme.”