PDCOB 2.5 Restrictions on charging in relation to dashboard services

A firm must not impose a charge on a customer for any service other than for a permitted dashboard service.

A firm must not permit any other person to charge in relation to any services on or from the firm’s pensions dashboard platform.

A firm must not impose a charge on a customer for a permitted dashboard service, or enter into an agreement with a customer under which a charge is, or may become, payable for a permitted dashboard service, unless the customer has actively elected to receive that service and pay that charge.

A firm must not invite or induce a customer to receive services for which a charge will be, or may become, payable if the firm knows or has reasonable cause to suspect that the services are not permitted dashboard services or that an active election to be charged is unlikely to be made.

If, under the terms and conditions of a permitted dashboard service there is to be an automatic renewal of the agreement on substantially the same terms, it suffices for the purposes of PDCOB 2.5.4R if the customer actively elected to obtain the permitted dashboard service before entering into the initial agreement or a preceding renewal.

An automatic renewal of the agreement is not to be regarded as being on substantially the same terms if, following the renewal, a charge, or a significant charge, will or may become payable for the permitted dashboard service for the first time (in which case, PDCOB 2.5.4R applies at the time of the renewal).

For the purposes of this section, a charge includes any direct or indirect financial or non-financial consideration of any kind, whether payable to the firm or any other person.