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HANSARDPension Schemes Bill (Sixth sitting)I beg to move amendment 107, in clause 38, page 43, line 9, at end insert— “28CA Information (1) Regulations may make provision about information that the trustees or managers of…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)Before I come to the detail of the amendment, I should re-emphasise the point made by my hon. Friend the Member for Tamworth about the volume of amendments to clause 38 in…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)The direct answer is that, yes, the amendment comes from discussions with regulators, to make sure that the flow of information is sufficient to live up to Parliament’s intent and…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I will not speak for long. The hon. Member is absolutely right to say that defined-benefit schemes have been material buyers of gilts over a long period. The market is perhaps…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)We now move from the contractual override provisions of the Bill to the default pension benefit solutions. This is a material change to our pension landscape, as the defined…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I apologise for my slip of the tongue at the start of my speech. This group of amendments deals with transition pathway relief. Here, in many cases we are talking about existing…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I thank the hon. Lady for that question. There is not a formal requirement on the Secretary of State to carry out a review as we are going. My honest view is that any regulator…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I thank the hon. Lady for rightly raising the important question of communication to members. I draw the Committee’s attention to clause 44, which explicitly aims, in quite some…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I beg to move amendment 167, in clause 43, page 57, line 10, leave out “In subsection (5)(a)(ii)” and insert “In this Chapter,”. This amendment reflects the fact that “qualifying…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I beg to move amendment 147, in clause 42, page 55, line 9, leave out “eligible members” and insert “each eligible member”. This amendment clarifies that trustees or managers are…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)This group of amendments deals with the transition pathway relief, which we touched on earlier in the context of support for innovation within the pension landscape. First,…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I beg to move amendment 156, in clause 43, page 56, line 29, leave out— “a member of the scheme” and insert— “eligible members of the scheme (whether comprising the members of the…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)The amendment is absolutely right that trustees should consider a wide range of options when they are developing their default pension benefit solutions. As I have just remarked…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)We now move to the substance of clause 43 and the proposed amendments. Clause 43 allows schemes to partner with another for the purpose of delivering a suitable pension solution…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)As the hon. Member has asked so kindly, I assure him that I will write to him and to my hon. Friend the Member for Tamworth ahead of Report.09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I thank my hon. Friend. She is right that it is important that we think through how to line up the value for money work with the question we are now turning to on contractual…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I beg to move amendment 108, in clause 38, page 43, line 19, at end insert “, and (b) has a credible plan in place for meeting the scale requirement within the meaning of section…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)I will start with the Government amendments and then turn to new clause 32. The amendments relate to proposed new section 28C and specify more detail about the role of the…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)In cases where trustees or managers of a relevant scheme have determined that it is not reasonably practical to provide a solution themselves, or that better member outcomes could…09 Sept 2025HANSARDPension Schemes Bill (Fifth sitting)I beg to move amendment 36, in clause 29, page 27, leave out lines 14 and 15. This amendment clarifies that small pots regulations may confer rights of appeal more broadly than…09 Sept 2025