New Clause 6
Pensions Bill
Public Bill Committees, 6 February 2007, 5:30 pm
Review of role and purpose of Financial Assistance Scheme
‘(1) The Secretary of State shall commission an independent review of the Financial Assistance Scheme having regard (among other things) to—
(a) the efficiency and cost effectiveness of its administration;
(b) whether it could be more effective if administered by the staff of the Pension Protection Fund;
(c) whether it is adequately financed;
(d) what other sources of finance could be made available, including but not limited to unclaimed assets;
(e) whether it should be engaged in the purchase of bulk annuities.
(2) The Secretary of State shall publish the findings of such review within six months of this Act coming into force.’.—[Mr. Waterson.]