Section 28K — Pensions Act 2008: Report about effects of pension scheme consolidation

Report about effects of pension scheme consolidation 28K 1 The Secretary of State must prepare and publish a report about the effects of consolidation on innovation in the design and operation of relevant Master Trusts and group personal pension schemes.

2 The report may in particular include information about—

a the extent to which consolidated schemes adopt or maintain innovative product designs of constituent schemes;

b barriers to consolidated schemes adopting or maintaining such innovative product designs.

3 The Pensions Regulator and the FCA must provide such information and assistance as the Secretary of State may require for the purposes of the report.

4 The report under this section must be published before the end of the period of 12 months beginning with the day on which this section comes into force.

5 In this section “ consolidation ” means the consolidation of a relevant Master Trust or group personal pension scheme with one or more other schemes.