Member

I turn to Amendments 172 to 174 from the noble Viscount, Lord Younger. Amendment 172 looks at communication with members, which is crucial. The amendment would place a duty on schemes subject to the asset allocation requirement to communicate certain information to members affected by the requirement before it comes into force. It would further require that the VFM status of alternative schemes be made available to members. If this power were ever to be exercised, it would ensure that pension schemes that are not approved as complying with the asset allocation requirements would lose their eligibility to accept contributions under the auto-enrolment system. That means, in effect, that employers which are customers of those schemes would need to ensure their employees and workers were re-enrolled in a compliant scheme.