Government forced to consider lifeboat fund for master trusts

James Phillips
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Baroness Drake called for a 'funder of last resort'
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Baroness Drake called for a 'funder of last resort'

Planned regulations for master trusts may now include a requirement for the Department for Work and Pensions (DWP) to introduce a "funder of last resort".

The House of Lords agreed a Labour amendment to the Pension Schemes Bill on 19 December in response to concerns the draft rules failed to protect members' benefits in worst-case scenarios. The bill,...

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