Master Trust schemes: definition

Part of Pension Schemes Bill [Lords] – in a Public Bill Committee at 9:25 am on 7th February 2017.

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With this it will be convenient to discuss the following:

Amendment 32, in clause 1, page 1, line 12, at end insert—

‘(1A) The definition of a Master Trust Scheme shall include such schemes that provide benefits to members who are self-employed in addition to those who are employed by others.”

This amendment will ensure that master trust schemes that also allow self-employed members to join are within cover by the regulation introduced by this Bill.

Amendment 23, in clause 1, page 1, line 13, leave out subsection (2).

To clarify the protection provided under this Bill for non-money purchase benefits.