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HANSARDPension Schemes Bill (Eighth sitting)We all agree that we want providers and, most importantly, consumers to operate in this landscape as easily as possible. Particularly in the case of consumers, we do not want them…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)Let me attempt to offer some words of clarification and then come to what the Government are doing on this issue. To clarify, pension schemes are covered by the rules on direct…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I suspect that I have already written to the hon. Lady, because she has raised some constituency cases with me, but she can receive another one of those letters. New Clause 33…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I am grateful to the hon. Member for Wyre Forest for tabling the new clauses, and for his impressive consistency; he has spoken to this issue many times not only in this…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)We have now had a few discussions about the case for monitoring and evaluating the Bill and what is going on in the pension landscape more generally. I do not want to repeat…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I do not want to speak for the commissioners because that would be to prejudge their work. I can tell the hon. Lady what the terms of reference require and they definitely rule…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I will resist the temptation to relitigate the entire argument about clause 38, which we discussed at some length on Tuesday. I entirely agree with the thrust of the new clause,…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I am grateful to the hon. Member for the new clause. I acknowledge the concerns surrounding the abolition of the Pension Protection Fund admin levy. This is not a new issue; it…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I am grateful for this new clause, which was tabled by one of my neighbours in south Wales, the hon. Member for Caerfyrddin (Ann Davies). It is obviously an important issue for…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I will remark briefly on the new clause. To state the obvious, the quality and independence of trustees is an integral part of our trust-based pensions system. It is very…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I am grateful to the hon. Member, as always, for raising those specific issues in this debate. It has been a good opportunity to raise such cases, as he regularly does. The hon.…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)Clause 98 is a standard provision setting out how regulation-making powers in the Bill may be used. It confirms that all regulations will be made by statutory instrument and…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I thank all Opposition Members for those reflections. I will come to my own after I have dealt with the remaining clauses and amendments—we must finish the job. On the Opposition…11 Sept 2025HANSARDPension Schemes Bill (Seventh sitting)We turn now to chapter 5, which is concerned with “events of concern”—events that require closer regulatory scrutiny. These are events such as breaches of financial thresholds, an…11 Sept 2025HANSARDPension Schemes Bill (Seventh sitting)I beg to move, That the clause be read a Second time. I thank all Members for their patience. The new clause amends part 1 of the Pensions Act 2008. It is essential to address a…11 Sept 2025HANSARDPension Schemes Bill (Eighth sitting)I shall take that up directly with the new Economic Secretary to the Treasury, who I am sure will talk to her colleagues in the Department for Education. I can offer the hon.…11 Sept 2025HANSARDPension Schemes Bill (Seventh sitting)It is a pleasure to serve under you today, Ms Lewell. As we come to the first clauses dealing with superfunds, I start by setting out the background. Superfunds provide a route…11 Sept 2025HANSARDPension Schemes Bill (Seventh sitting)Chapter 3 sets out the criteria for approving superfund transfers. The clause protects the integrity of the superfund regime that we are aiming to put in place through the Bill by…11 Sept 2025HANSARDPension Schemes Bill (Seventh sitting)I thank the hon. Members for Torbay and for Horsham for the amendment. It is sensible to discuss one of the key questions in the design of superfunds policy. My main reassurance…11 Sept 2025HANSARDPension Schemes Bill (Seventh sitting)I will answer the hon. Lady’s question directly, and then come to the amendment more broadly. The best way to think about this amendment is that it asks us to remove one of the…11 Sept 2025