The Pensions and Lifetime Savings Association welcomes the publication of the revised Incentive Exercises Code. The Association was closely involved in drawing up the original Code of Practice in 2012 and is pleased that the principles set out in the first Code in 2012 have stood the test of time. However it is important that the Code continues to reflects the modern pensions landscape and with the introduction of the Pension Freedoms last year it was right that Monitoring Board worked to ensure the body of the Code reflected this new landscape.

On this page is the revised version of the Code, a marked up version (showing the changes from the June 2012) and the boundary examples.