Part of Pension Schemes Bill – in a Public Bill Committee at 3:45 pm on 2 September 2025.
Michelle Ostermann:
Yes. The biggest variable that we have a hard time predicting in those scenarios is the likelihood of this being used and the manner in which it is used, but we test deep into the tail. We try several scenarios that give us a high probability of it being abused or overused, and the opposite, and we have come out with pretty strong confidence. As it is defined today, we feel comfortable.