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803 recent contributions in Hansard
HANSARDPension Schemes Bill (Fifth sitting)Clause 30 seeks to ensure that the rules and conditions set by the regulations are, in practice, followed. These regulations can allow the Pensions Regulator to issue three types…09 Sept 2025HANSARDPension Schemes Bill (Sixth sitting)Clause 47 allows for a compliance framework to be developed to ensure that trustees or managers of pension schemes comply with the requirements of chapter 5 of the Bill and take…09 Sept 2025HANSARDPension Schemes Bill (Fifth sitting)Clause 29 will make the small pot consolidation framework work in practice, through allowing the small pots regulations to cover a range of operational, administrative, data…09 Sept 2025HANSARDPension Schemes Bill (Fifth sitting)I thank the hon. Member for that comment. The nature of every piece of legislation means that a future Government can take a different decision. Thanks for the reminder of the…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 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 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)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)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 (Fifth sitting)I thank the hon. Member for Torbay for tabling the amendment. The Government share his commitment to ensuring that the pot limit remains appropriate. As we have just heard, it is…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)I beg to move amendment 196, in clause 45, page 59, line 27, leave out “offer” and insert “provide or make available”. This amendment allows for regulations either to require…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)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)The purpose of the clause is to help improve pension engagement so that individuals can make better decisions themselves if they want to do so. As I said earlier, this is about…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)We now come to the contractual override part of the Bill. This group of amendments expands the scope of clause 41 to apply to Northern Ireland pension schemes. Just like in Great…09 Sept 2025HANSARDPension Schemes Bill (Fifth sitting)I thank the hon. Members for Wyre Forest and for Aberdeen North. The main question raised is about the level of the fines. To provide some context, the answer is yes—that would…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