Continuity strategy requirement

Part of Pension Schemes Bill [Lords] – in a Public Bill Committee at 3:00 pm on 7th February 2017.

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Photo of Richard Harrington Richard Harrington The Parliamentary Under-Secretary of State for Work and Pensions 3:00 pm, 7th February 2017

I believe the three months was reached after discussion with the regulator, taking the worst case into consideration. That is a long stop—it would generally be quicker than that—but it came out of discussions with the regulator.

We believe it is essential that master trusts have those continuity strategies and I hope clause 13 will stand part of the Bill.