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Pension Schemes Act 2017
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9Financial sustainability requirement: business planE+W+S
This section has no associated Explanatory Notes
(1)A scheme strategist of a Master Trust scheme must prepare a business plan for the scheme.
(2)The Secretary of State may make regulations setting out—
(a)information that must be included in a business plan, and
(b)any other requirements with which a business plan must comply.
(3)The scheme strategist must review the business plan at least once a year, and revise it if appropriate.
(4)The scheme strategist must revise the business plan at any time if there is any significant change to the information included in it.
(5)The business plan, and any revisions to it, must be approved by each scheme funder, any other scheme strategist and the trustees.
(6)The scheme strategist or the trustees must provide the Pensions Regulator with the most recent business plan, and any supporting information or documents required by the Regulator—
(a)on application for authorisation (see section 4);
(b)within three months of the plan being revised;
(c)at any other time, on request from the Regulator.
(7)The first regulations that are made under this section are subject to affirmative resolution procedure.
(8)Any subsequent regulations under this section are subject to negative resolution procedure.
Modifications etc. (not altering text)
C1Pt. 1 excluded (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 27
C2Pt. 1 excluded (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 26
C3Pt. 1 modified (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 28(2)
C4Pt. 1 modified (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations2018 (S.I. 2018/1030), regs. 1(2), 28(3)(4)(a)(b)
Commencement Information
I1S. 9 in force at 5.9.2018 for specified purposes by S.I. 2018/965, reg. 2(a)
I2S. 9 in force at 1.10.2018 in so far as not already in force by S.I. 2018/965, reg. 2(b)
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