Mr. Tim Duggan:

We have not yet landed on whether it would be on a dual basis and whether choice would be provided, or whether there should be a drop-dead date and a pick-up date. We have still to tease through the implications of doing one or the other. The current thinking is that, in a pure sense, from 2020 onward we will switch over to a total contributions approach. I am not for a second going to pretend that is an absolute date that has been fully agreed. It really depends on where we end up in 2017 in terms of the design and consultation, the associated changes to the design and how we can get through a legislative process. It is a matter of what is considered reasonable by various stakeholders in terms of a lead-in time to allow this to happen, including whether there should be parallelism. It is a little early to give definitive answers but within six months we will be able to have very detailed, decent conversations with the members on this.