Contributions
276 recent contributions in Hansard
HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018My Lords, we are talking about occupational pensions and private pension schemes. If the noble Lord has a pension in that area, it would be important for him to make sure that he…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018My Lords, we are constantly in touch with the Pensions Regulator, with which we have a very good relationship. We work very closely with industry. My honourable friend in another…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018My Lords, it is interesting that the noble Lord has taken one quote from one article on this. Certainly, our understanding from our discussions with industry is that because this…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018The noble Lord, with all his experience, will know that all legislation, however much it is consulted upon, runs the risk of unintended consequences. However, in this case, there…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018My Lords, it was as a result of ongoing communication with our industry stakeholders that we discovered that it was important to re-lay the regulations. In a sense, there was not…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018I will give way to my noble friend. However, I would like to answer the question on making the changes and re-laying the regulations.15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018I want to progress, my Lords, and do not have to accept any more interventions.15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018My Lords, these regulations make minor and technical changes to domestic legislation that would otherwise no longer operate effectively once the UK withdraws from the European…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018That the draft Regulations laid before the House on 3 December 2018 be approved.15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018I beg to move.15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (Northern Ireland) (EU Exit) Regulations 2018My Lords, Northern Ireland’s occupational and personal pensions legislation broadly mirrors legislation in Great Britain. These regulations, therefore, make analogous minor and…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (Northern Ireland) (EU Exit) Regulations 2018That the draft Regulations laid before the House on 3 December 2018 be approved.15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (Northern Ireland) (EU Exit) Regulations 2018I will respond to both noble Lords on these issues around Northern Ireland. First, in response to the noble Lord, Lord Adonis, there was the same error when the regulations were…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018I take on board my noble friend’s question. We have to be realistic about this. I am sure noble Lords will accept that we cannot impose any legal rights, certainties and…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018I will be turning to the Northern Ireland regulations shortly. If we leave with no deal it is not possible at that point for our Pensions Regulator to continue to protect assets…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018These are pension schemes operating in member states. If they are operating in member states they do not then have to make sure they abide by UK law and the UK Pensions Regulator.…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018The noble Lord is talking about cross-border pensions that do not have to come to our Pensions Regulator once we leave the European Union. The whole point is that we have to make…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018My Lords, let me turn to the consultation that took place in relation to these statutory instruments. Other noble Lords have insinuated that there was no consultation. I made it…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018I thank all noble Lords who have taken part in the debate, and I will do my best to respond. My notes are somewhat spread, so if I may I will begin by responding to the noble…15 Jan 2019HANSARDOccupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018No.15 Jan 2019