Contributions
1,127 recent contributions in Hansard
HANSARDPension Schemes Bill [HL]On the first point made by the noble Lord, Lord Hutton, we will write to clarify things. We have not listed “significant events” in the Bill because if members are to be…24 Feb 2020HANSARDPension Schemes Bill [HL]My Lords, the two amendments tabled by the noble Baroness, Lady Bennett, to Clauses 46 and 119, both relate to issues of diversity and protected characteristics. I will speak…24 Feb 2020HANSARDPension Schemes Bill [HL]24 Feb 2020HANSARDPension Schemes Bill [HL]My Lords, I agree that, for CDC schemes to be a success, a high degree of transparency and effective communications are key. If we want to foster member trust in this new…24 Feb 2020HANSARDPension Schemes Bill [HL]My Lords, we are committed to protecting members of workplace pension schemes from unfair charges. This is why we introduced a 0.75% cap on charges in the default funds of money…24 Feb 2020HANSARDPension Schemes Bill [HL]The noble Baroness, Lady Bowles, asked what the cap covers. This is defined in the regulations, and we will send details to all Members of the Committee. We will consult on 0.75%…24 Feb 2020HANSARDPension Schemes Bill [HL]24 Feb 2020HANSARDPension Schemes Bill [HL]My Lords, this amendment would mean that a member of a CDC scheme would be unable to transfer their share of the collective assets to another pension scheme, with a view to…24 Feb 2020HANSARDPension Schemes Bill [HL]I thank noble Lords for tabling these amendments linked to fairness. Concerns about fairness often arise in respect of CDC. I fully understand noble Lords’ interest in this…24 Feb 2020HANSARDPension Schemes Bill [HL]I thank noble Lords for raising these amendments that relate to events which can occur in an authorised CDC scheme and which must be notified to the Pensions Regulator. The…24 Feb 2020HANSARDPension Schemes Bill [HL]I thank the noble Lord for that important point, which we will certainly consider.24 Feb 2020HANSARDPension Schemes Bill [HL]As I understand it, it means to delegate powers.24 Feb 2020HANSARDPension Schemes Bill [HL]It would be very helpful if the noble Lord would repeat that for my officials.24 Feb 2020HANSARDPension Schemes Bill [HL]I am advised that we are confident that that will be the case.24 Feb 2020HANSARDPension Schemes Bill [HL]I think the original question was around the consultation we are going to do on this. This will be resolved in the consultation.24 Feb 2020HANSARDPension Schemes Bill [HL]Let me try to be helpful and to placate noble Lords on this: money needed to wind up should come from the employer. A scheme would not be authorised if it did not have this…24 Feb 2020HANSARDPension Schemes Bill [HL]Noble Lords must forgive me for turning to my friends. This is my first Bill. The answer to that question is no, it should not be.24 Feb 2020HANSARDPension Schemes Bill [HL]I shall turn first to the point raised by the noble Lord, Lord Sharkey. The funding of future inflation increases provides the headroom funding that is required. The answer to the…24 Feb 2020HANSARDPension Schemes Bill [HL]I thank my noble friend for her intervention. My understanding is that CDC schemes are obviously new and will not carry any legacy data issues, which should lower the initial…24 Feb 2020HANSARDPension Schemes Bill [HL]I thank noble Lords for tabling the amendments. I turn first to the proposed amendments to Clause 14. The fundamental aims of the financial sustainability requirement are to avoid…24 Feb 2020