FSA is consulting on changes to its rules to take into account reforms on workplace pensions. The main proposals are to:
- ake clear that automatic enrolment in a group personal pension is not subject to the inertia selling restriction of the Distance Marketing Directive;
- confirm that FSA's rules and the Department for Work and Pensions' rules on cancellation and opting out are interchangeable so only one process needs to be followed;
- extend the scope of its rules on advice to give the same protection to all types of workplace scheme, and to extend its rules also to cover additional contributions.
FSA wants comments by 9 February 2011. FSA then plans to make its rules in the second quarter of 2011 for the changes to take effect from 1 October 2012.