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HANSARDPension Schemes BillMy Lords, the Government recognise that the pension compensation system and the safety net it offers need to work harder for members. Payments from the Pension Protection Fund,…05 Feb 2026HANSARDPension Schemes BillMy Lords, I am grateful to my noble friend for introducing his amendment and I look forward to the subsequent instalments of his reflections on these important areas. The…05 Feb 2026HANSARDPension Schemes Bill05 Feb 2026HANSARDPension Schemes BillMy Lords, I am grateful to the noble Baroness for introducing her amendment and all noble Lords who have spoken. I am afraid the noble Viscount has given a spoiler regarding my…05 Feb 2026HANSARDPension Schemes Bill05 Feb 2026HANSARDPension Schemes BillMy Lords, I will start by discussing Amendment 203ZC and then come to the other amendments. Amendment 203ZC would add new provisions to the Pensions Act, which would mean that, if…05 Feb 2026HANSARDPension Schemes BillMy Lords, in moving government Amendment 194, I shall speak also to government Amendments 195 to 202; I would welcome the Committee’s support for them. The AWE pension scheme is a…05 Feb 2026HANSARDPension Schemes BillThe challenge of this is that of course schemes can come out in the assessment period. That is the point of the assessment period: to work out whether there is a sponsor or enough…05 Feb 2026HANSARDPension Schemes BillMy Lords, I thank the noble Viscount, Lord Younger, for introducing his amendment and all noble Lords who have spoken. As we have heard, the amendment would introduce a statutory…05 Feb 2026HANSARDPension Schemes BillMy Lords, I thank all noble Lords for introducing their amendments. On top of the usual suspects, it is nice to welcome my noble friend Lord Hendy and particularly my noble friend…05 Feb 2026HANSARDPension Schemes Bill05 Feb 2026HANSARDPension Schemes BillI will simply say that there will be a report early next year. I am very happy to write to the noble Lord to confirm any future timings.05 Feb 2026HANSARDPension Schemes Bill05 Feb 2026HANSARDPension Schemes BillI am not in a difficult position. The Government’s position is clear: these are not comparable schemes. One has a Crown guarantee, for the reasons that I have explained, while the…05 Feb 2026HANSARDPension Schemes BillMy Lords, I am grateful to the noble Baroness, Lady Bowles, for introducing her amendments and explaining why she wants to advance them. As she said, taken together, they would…05 Feb 2026HANSARDPension Schemes Bill05 Feb 2026HANSARDPension Schemes BillJust for clarity, the benefit will be exactly as I described in the Government’s amendments—which obviously is incredibly generous but, just to be clear, that is the benefit under…05 Feb 2026HANSARDPension Schemes BillMy Lords, I thank the noble Lord, Lord Palmer, for introducing his amendment, which would require the Government to conduct a report on the impact of consolidation in the…05 Feb 2026HANSARDPension Schemes BillThe noble Baroness makes a very fair point. In the light of her comments, I do not know enough about what she tried to do and why it did not work. I would like to be able to…05 Feb 2026HANSARDPension Schemes Bill05 Feb 2026