Member

88Z3: Clause 40, page 48, line 2, at end insert— “(za) a joint assessment by the Financial Conduct Authority and the Pensions Regulator of the extent to which there is evidence of competitive conditions restricting relevant Master Trusts and group personal pension schemes from investing in qualifying assets, including in circumstances where such investments may be in the best interests of members of such schemes; (zb) the Secretary of State’s assessment of the extent to which relevant Master Trusts and group personal pension schemes have made progress towards achieving— (i) 10% (by value) of scheme assets held in main default funds to be qualifying assets, and (ii) 5% (by value) of scheme assets so held to be of a UK-specific description (within the meaning of subsection (6A)(b)); (zc) the Secretary of State’s assessment of any barriers to relevant Master Trusts or group personal pension schemes investing in qualifying assets, including in particular where such assets are located in the United Kingdom; (zd) the steps taken by the Secretary of State or the Authority to address any such barriers;”