The Secretary of State must carry out a review of the operation of sections 38A and 38B of the Pensions Act 2004 (which are inserted into that Act by paragraph 2 of Schedule 9 to this Act) during the period of 4 years beginning with the day on which that paragraph fully comes into force (“the commencement date”).

The Secretary of State must set out the conclusions of the review in a report and lay the report before Parliament.

The report must be laid before the end of the period of 5 years beginning with the commencement date.