Pension Schemes Act 2017
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
28 Duty to pursue continuity option
(1) When the Pensions Regulator has notified the trustees of a Master Trust scheme that the implementation strategy is approved, the trustees must— (a) pursue the continuity option identified in the strategy; (b) take such other steps as are identified in the strategy in order to carry it out. (2) The trustees must also make the strategy available to the employers before the end of a period specified in regulations made by the Secretary of State. (3) If— (a) a triggering event within item 1, 2 or 3 of the table in section 21(6) occurs within the triggering event period for an earlier triggering event, and (b) an implementation strategy has been approved by the Pensions Regulator in respect of the earlier triggering event, the trustees are not required to comply with subsections (1) and (2) in respect of the strategy approved in respect of the earlier triggering event. (4) The Pensions Regulator may direct the trustees to comply with the requirements of subsection (1), if they fail to do so. (5) Section 10 of the Pensions Act 1995 (civil penalties) applies to a person who fails to comply with a direction under subsection (4). (6) This section overrides any provision of— (a) the Master Trust scheme, and (b) a Master Trust scheme contract, to the extent that there is a conflict. (7) Regulations under this section are subject to negative resolution procedure.
28 Duty to pursue continuity option
(1) When the Pensions Regulator has notified the trustees of a Master Trust scheme that the implementation strategy is approved, the trustees must— (a) pursue the continuity option identified in the strategy; (b) take such other steps as are identified in the strategy in order to carry it out. (2) The trustees must also make the strategy available to the employers before the end of a period specified in regulations made by the Secretary of State. (3) If— (a) a triggering event within item 1, 2 or 3 of the table in section 21(6) occurs within the triggering event period for an earlier triggering event, and (b) an implementation strategy has been approved by the Pensions Regulator in respect of the earlier triggering event, the trustees are not required to comply with subsections (1) and (2) in respect of the strategy approved in respect of the earlier triggering event. (4) The Pensions Regulator may direct the trustees to comply with the requirements of subsection (1), if they fail to do so. (5) Section 10 of the Pensions Act 1995 (civil penalties) applies to a person who fails to comply with a direction under subsection (4). (6) This section overrides any provision of— (a) the Master Trust scheme, and (b) a Master Trust scheme contract, to the extent that there is a conflict. (7) Regulations under this section are subject to negative resolution procedure.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.